Work is now due to start on the project which will see 4,000 new homes built over the next 20 years, creating 6,000 new jobs, as well as a business park.
Developer St Modwen has been involved in “remediation works” for the last four years, clearing the site.
Up to 400,000 tonnes of concrete cleared from Llanwern will be re-used.
The new community to the east of Newport will be called Glan Llyn and the 600-acre site, which was acquired by St Modwen in 2004, includes plans for schools, new access roads, as well as health and leisure facilities.
A business park, covering 1.5 million square feet will be built adjacent to the residential areas.
When completed the value of homes and office buildings on the site will top £1bn, the company has said. An agreement between St Modwen and Newport City Council has been signed which clears the way for the start of phase one building work on site.
Rob Skelston, development director for St Modwen in south Wales, said signing the agreement with Newport council signalled “an important milestone for the development of the site”.
“Over the past four years, we have been carrying out significant remediation works, reusing materials from the ground wherever possible to prepare the land for development,” he said.
Mr Skelston said the firm expected to announce a residential partner for phase one work “very shortly”.
He said the plans for Glan Llyn would help transform the area into a “thriving part of the city with high quality housing and new employment opportunities”.
He said the development would begin with the construction of 140 homes in the first three years.
’Long-term developer’
“It will take 20 years to complete because this is a new community in its own right,” he said.
The agreement between the firm and the council does not commit St Modwen to completing the project, however.
“We are a very long-term developer and investor,” said Mr Skelston. “We are very confident this will be delivered.”
The brownfield site will also be used as a major park and ride facility during the Ryder Cup golf competition, being held at the nearby Celtic Manor resort.
Andy Evans, head of service for planning at Newport City Council, said: “In the longer term a major brownfield site will be transformed into a thriving new community. This is a massive contribution to Newport’s future growth strategy.”
St Modwen is the UK’s largest regeneration developer and is currently involved in work to build about 8,000 homes across sites in south Wales, including at three former BP sites, at Coed Darcy and Baglan Bay, between Neath and Port Talbot.
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