The Cumbrian housebuilder has secured the backing of Eden District Council for a 40-home development in Greystoke.
Greystoke Fields will feature three, four and five-bedroom homes, the company said.
The project is to be developed on land east of the Thorpe.
Development planner Paul Fenton explained: “Our development will support existing local businesses and help create additional employment through new opportunities for local sub-contractors and the supply chain.
“We look forward to bringing our homes to the area.”
Story said that it expects to start on site this summer with the first homes due to complete in spring 2022.
The company has in recent months advanced schemes including a second phase at its Waterside development in key Preston development area Cottam.
This year has also seen the appointment of a strategic land managing director in John Winstanley.