Work is set to start on the £2.5m transformation of a long-time vacant builders' yard in Stapleford.
A total of 15 houses will be built on land on the corner of Nottingham Road and Cemetery Road.
The site has been cleared and up to 10 of the properties will be for tenants to rent at an affordable price and five will be available on a shared ownership basis.
Tom Spink, director of MyPad, the residential development company working on behalf of the Futures Housing Group, said work was due to start this month.
He said: "It's known locally as the former Moults builders' yard - I think the Moults were a family.
"It's been stood vacant for some time. It's very positive it's being developed now.
"It's fantastic for Stapleford, as a town I think Stapleford itself has done incredibly well recently with its successful grant application for the Town Centre Improvement Fund - it was awarded £21m to improve the community facilities.
"This is going to be one other aspect of the town that is going to future proof its growth and sustainability for families to come and enjoy for many years to come."
Nine two-bedroom homes and six three-bed houses will be built.
The properties will be for people on Broxtowe Borough Council's waiting list for council housing.
Councillor David Grindell, who represents Stapleford South East for the Liberal Democrats on Broxtowe Borough Council, said the site had been vacant for more than 30 years.
"It's a good idea to have new affordable and new housing on the site, it's exciting - it's a piece of land that has been derelict for many, many years," he said.
"I want to see that land built on with some affordable housing and other housing - it's very important."
Councillor Tim Hallam, who represents Stapleford South East for the same party on the borough council, added: "It's great after decades of it being a derelict, useless site with such potential to see to see proactive work going on and work that is going to help people who need housing, of whom there are so many."
