Housebuilder Redrow has acquired a mammoth site in south Staffordshire with planning permission for 1,100 homes.
The company has bought the 148-acre former golf course in Amington near Tamworth from the town's borough council.
The course, close to Redrow's regional HQ in Kinsall Green, closed in October 2014 and already has outline planning consent.
Along with new homes, Redrow said it had committed to invest £14 million in the local area including contributions towards the cost of building a primary school and the creation of a community woodland.
Matthew Pratt, regional chief executive for Redrow Homes, said: "It represents a long-term investment in the Tamworth area and is one of the biggest schemes we'll be working on in the Midlands for the foreseeable future.
"It's great news for the region as industry figures suggest that, outside London, the West Midlands is the area with the most jobs supported by housebuilding and this site has the potential for ten years of production.
"While we will be recruiting additional staff to enable us to build the homes, the scheme will support jobs in the supply chain and in local businesses."
A total of around 60 acres of land will be retained and enhanced as public open space.
Redrow will also finance more than £4 million worth of improvements to secondary and sixth form education, a new bus service between the development and the town centre, create a travel plan and fund other highways improvements.
A planning application for the first phase of building is due to be submitted in the next few weeks with the aim of starting work in the autumn.