Construction work is underway at the 23ha Northshore site in Stockton-on-Tees with 50 houses under construction by Muse Developments and Lovell.
The work follows extensive remediation of the former industrial and ship building site funded by the Homes & Communities Agency and supported by Stockton Council, Tees Valley Unlimited and One North East.
"Our £20m investment in preparing the Northshore site for development has turned a post-industrial wasteland into a development opportunity which can help drive the local economy forward," said Chris Munro, area manager at the HCA.
"Muse's scheme can now build on this platform as the next stage in Northshore's development, providing a focus for homes, jobs and learning opportunities to benefit both Stockton and the wider Tees Valley."
Council leader Ken Lupton said his Council had now launched its town centre development prospectus and work is also underway to bring the Globe Theatre back into use.
There had also been signficant investment in the riverside including the Tees Barrage whitewater course and Durham University's Wolfson Institute.
"The Northshore development is another exciting and integral contribution to wider regeneration plans which will benefit existing residents, and residents who may move to the area in future, for many generations," he said.
