South Ribble Council has approved plans for 20 new homes on the outskirts of Preston by Hollinwood Homes, part of Marcus Worthington Group.
Jubilee Meadow will be built in the Walmer Bridge suburb of Preston and consist of a mix of apartments, semi-detached and detached houses.
Work at Jubilee Meadow is expected to start in the autumn and reservations will be taken shortly.
The first buyers are expected to move in to their new homes in late 2013.
Jubilee Meadow was designed by Heyes Architects.