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The £28million contract from Community Gateway Housing Association will mark the first collaboration with Vistry.
With a delivery of 126 homes in the first phase, work is expected to start in at land just off Tabley Lane in 2026.
It will offer a mix of tenures to provide a wide range of affordable homes for the local community in Cottam and has been back and forth to the city’s planning committee a number of times in recent years.
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Zac Worthington, managing dector of Vistry Merseyside & Cheshire West, said: “We’re delighted Community Gateway Association has chosen to work with us for the first time on this exciting new scheme in Preston.
“Working together, we can deliver a significant number of homes for local people in a range of housing choices.”
Stephen Galbraith, head of development and regeneration at Community Gateway said: “We’re pleased to be partnering with Vistry on this development, which will bring much-needed, high-quality homes to Preston. This partnership reflects our corporate priority of offering a wider choice of affordable housing and supporting our ongoing commitment to meet local housing needs.”
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