The award winning home builder and regeneration specialist is expected to begin works on site at the turn of the year.
They will develop 420 homes across 27 acres of land south of Bilston town centre and the Black Country Route.
The size of the homes will range from 2 bedroom to 4 bedroom, with 192 for market sale and 123 for private rental, plus 85 homes for affordable rent and 20 for shared ownership.
The development follows investment by City of Wolverhampton Council and Homes England to bring the site forward for development through a range of major works, including the clearance of trees, former factory floors being broken up, the old railway embankment removed, and highways and drainage infrastructure being installed.
City of Wolverhampton Council Cabinet Member for City Economy, Councillor John Reynolds, said: "This is a major piece in the puzzle in the regeneration of Bilston and we can now look forward to seeing new homes springing up on Bilston Urban Village next year.
"Our plans to develop almost 500 homes on the site will make a significant impact in achieving our housing targets in the City of Wolverhampton.
"The council has spent a lot of time making sure there is good road access, and ensuring that, with a bus only link, cycle ways and pedestrian routes, the new housing will be well connected to the town centre.
"The urban village is a key part of the wider regeneration of the city, bringing new homes, new jobs and more investment. It demonstrates our commitment to Bilston and ensures it will continue to be a thriving area."
John Gilbert, Regional Operations Director for Countryside's Midlands division, said: "With a wealth of experience in regeneration and community building, our aim is to fulfil the council's vision for rejuvenating the area by transforming this brownfield site into a high quality housing development.
"This scheme will play a critical role in the city's regeneration activity and, with our strong partnership model in place, the plans for Bilston Urban Village will provide residents with a vibrant, mixed tenure neighbourhood, where the new homes are both affordable and accessible for a wide range of people."
People have moved into the 78 homes developed by Kier on 2 other Bilston Urban Village plots either side of the entrance to Carder Crescent.
Extensive areas of open space have also been landscaped on the site, with a network of paths for walking and cycling created, overgrown trees and shrubs cleared, and fencing installed to properly define and protect areas.
The first phases of Bilston Urban Village produced significant investment in the building of the Bert Williams Leisure Centre and South Wolverhampton and Bilston Academy - improving health and increasing opportunities. A commercial development plot fronting the Black Country Route and the newly-named Bert Turner Boulevard linking the site with the town centre were also created.
This has been followed by the recently opened Marston's family pub/restaurant, the White Rabbit.
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- released: Wednesday 14 November, 2018