The scheme, known as The Lanes, is a residential-led mixed use scheme comprising a mix of accommodation offers as well as 27,000 sq ft of retail space.
It will include one-, two-, three, four- and five-bedroom homes featuring a mix of semi-detached and detached properties and apartments.
Situated to the west of Penwortham Way, the 53-acre site will also include 35 acres of green space and parks, as well as a primary school.
The development will be split into five zones, Bee Lane East, Bee Lane West, The Heart of the Lanes, The Urban Edge and The Penwortham Edge.
Jordan Gresham, strategic land regional director for Taylor Wimpey, said: “This site in Penwortham has been earmarked for a major development for almost two decades and will play a key role in the exciting plans for the Central Lancashire City Deal.
“The Lanes will go some way towards delivering the 7,000 homes required by the council across South Ribble from now up until the end of 2026.”
Nicola Elsworth, North West head of planning and enabling at Homes England, added: “Our collaboration with Taylor Wimpey has enabled us to put forward an ambitious planning application that will help create the new neighbourhoods people in South Ribble need.”
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