The scheme is set to see 1,500 new homes created on a bespoke site that will also boast local employment opportunities and community facilities.
Leader of East Northants Council Cllr Steven North said: “Our ambition is to create a unique new village with high-quality homes, first class schools, local jobs that are easy to access and plenty of green space and recreational areas, all in an outstanding location.
“Councillors debated the merits of the masterplan at our full council meeting this week and agreed that this exciting project must move forward.
“We have secured government funding and have consulted with the local and wider community so now that we have the masterplan approved, we’re ready to see this wonderful development take shape.”
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ENC councillor Roger Glithero is chairman of the Garden Village Project Board which includes representatives of the district, county and parish councils.
He added: “It has taken a lot of hard work to reach this stage so I’d like to thank everyone who has worked on developing the masterplan, including residents who took part in the consultation earlier this year.
“We now look forward to receiving a planning application for the site later this year.”