Plans for 350 homes on the former Camelot Theme Park site in Charnock Richard have been approved after a successful appeal by the Planning Inspectorate.
The scheme by Story Homes will see the transformation of the tourist attraction which closed in 2012.
The plans includes up to 350 new homes, with half of them being affordable housing for local people to meet housing needs.
It will also deliver a dedicated community hub, providing flexible space for co-working, meetings and activities for local groups, creating a valuable asset for both new and existing residents.
Adam Galleymore, North West operations director at Story Homes, said: "The approved scheme will deliver a wide range of benefits for the local area, including much-needed new homes, a significant proportion of affordable housing, new community facilities, and investment in local infrastructure.
“We are committed to creating a high-quality development that will leave a positive and lasting legacy for Charnock Richard and the wider Chorley area."
The development is expected to generate around £3m in Community Infrastructure Levy (CIL) contributions to support local infrastructure and services.
The construction phase will also provide a significant boost to the local economy, supporting an estimated 240 jobs through local contractors, subcontractors and supply chains over the lifetime of the development.
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