A contract to acquire the 14.8 acre site was signed in 2020 and the planning application, which was made in partnership with Cross Keys Homes, WM Morrison and New River Retail, was approved by South Kesteven District Council last month.
The £47.5 million scheme is the third live project between Partnerships and CKH, delivering 127 (64%) affordable homes and 73 open market homes, which will be sold by Linden Homes, also part of Vistry Group.
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The latest planning consent means Vistry Partnerships has now secured almost 400 new homes in partnership with CKH in Peterborough, with a combined value of over £70m.
The Stamford proposals include an agreement to improve local community facilities, a contribution towards healthcare provision, as well as cycle paths and open green spaces within the development itself.
Andy Reynolds, Managing Director of Vistry Partnerships East Midlands said: "This scheme is a part of a growing portfolio of developments in partnership with CKH and is another example of how Vistry Partnerships is committed to developing sustainable new homes and communities. The development will regenerate an area which has been derelict for many years."
Gary Norman, Director of New Business Development at CKH added: "We are delighted to be working with Vistry Partnerships on another exciting development project which will help to provide much needed affordable homes in Stamford."
Start on site is due to commence in Spring 2022.
