Under the scheme, known as Wellesley, the 255 hectare site to the north of Aldershot owned by the Ministry of Defence will be redeveloped to comprise 3,850 new homes, including 35% affordable, as well as a local neighbourhood centre, two new schools, amenity space and green infrastructure.
The scheme will also see the refurbishment of six listed buildings, including the Cambridge Military Hospital and Headquarters 4th Division, which will be preserved and brought back into use as homes and community facilities.
The committee also resolved to grant full planning permission for phase one of the scheme under which the first 228 homes will be built.
"This is great news for Rushmoor," said chairman of the Development Control Committee, Gareth Lyon in a statement. "The development represents a huge investment in our borough, bringing more people to Rushmoor, providing much-needed new homes, new jobs and a welcome boost to the local economy".
Grainger's development director John Beresford also welcomed the news. "We believe our proposal will bring long-term economic benefits to the wider Aldershot community, whilst also providing much-needed, good quality, new homes, schools and fantastic green open spaces and amenities," he said.
Final planning permission will be subject to the completion of a Section 106 Agreement. Development on the first phase of the scheme is expected to start in 2014, with the full masterplan to be delivered in phases over a 20-year period.
