Although officially within the parish of Middle Rasen, the site in Caistor Road will bring benefits for Market Rasen, with investment in the town’s services.
Work began on access to the development, which includes widening of the current carriageway (A46), with a two-way traffic light system in place.
The first phase of the development, by Chestnut Homes, will see the creation of 101 homes at ‘Chantrey Park’, which will deliver 300 properties in all.
David Newton, managing director of Chestnut Homes, said: “With construction work at Chantrey Park now underway, we are hoping to release the first homes for sale at the development this summer.
“Situated just over half a mile from the town centre, Chantrey Park will be a logical extension to Market Rasen.
“Residents will be within a 20-minute walk of a wide range of amenities, including shops, schools, health facilities and the town’s railway station.”
This initial phase will deliver 81 houses for private sale, comprising a mix of two, three, four and five-bedroom homes, while 20 properties will be provided as affordable housing.
Mr Newton said: “Designed with contemporary lifestyles in mind, these homes will meet the demand from a variety of house-hunters, from first-time buyers seeking to step onto the property ladder to families looking to find their forever home.
“We are proud of our 30-year history in providing high-quality new homes in locations across Lincolnshire.
“As with our other sites in the county, this development will feature traditional house designs that reflect the existing style and character of the local towns and surrounding villages.”
As well as new homes, the development will include areas of green open space, with a majority of the site’s mature trees, vegetation and habitat areas retained.
In line with planning agreements for the initial phase of Chantrey Park, Chestnut Homes will also be contributing £199,859 towards improvements to Market Rasen Primary School, £42,975 towards improvements to Market Rasen Surgery, £45,000 towards providing a skate park in the town, and £3,500 toward signage /white lining to make a foot and cycle path between the development and Church bridge.
Further contributions will be confirmed in line with subsequent planning approval for the remaining 199 homes.
The first residents are expected to be welcomed to Chantrey Park in early 2022