Godwin Developments has secured outline planning for 50 family homes in north Leicestershire.
It wants to build on land in Ashby Road, Shepshed, next to established homes in Crowson Close.
The developer said it will create a “much-needed” extension to the town which plans to build 2,331 new homes by 2037 to satisfy growing demand.
A spokesman said: “The development is well positioned for access into the town and all major amenities including local primary and secondary schools, shops, health care, services and employment, as well as the surrounding regional and national transport networks.
“It lies just over half a mile from junction 23 of the M1 motorway and approximately three miles from Loughborough, the principal settlement in the Borough of Charnwood.
“It is also surrounded by a range of historic parks and gardens and Charnwood Lodge National Nature Reserve is within a short drive.”
Nick Harrison, planning director at Godwin Developments, said: “We’re pleased to have secured planning permission for our residential development in Shepshed which will play a vital role in meeting the growing demand for new homes in the area.
“This housing scheme will support the council’s strategy for sustainable development, while also promoting Shepshed as a desirable place for people of all ages to live, work and play.”
Godwin Developments was helped by planning consultants Planning and Design Group Ltd and engineering firm HSP Consulting.
Godwin Developments has almost 3,000 residential units nationwide, and has consented residential developments in Nottingham, Milton Keynes and Derby.
