A master plan for the 193ha Long Marston site in Warwickshire, UK, has received planning permission from the local council.
The £100m ($162.76m) scheme is being developed by UK-based real estate company St Modwen Properties.
The plans will feature 500 new homes, a leisure hub with 150 self-catering lodges and 150 holiday homes, an outdoor activity centre, caravan park, football and cricket pitches, and a rail heritage centre.
Full permanent planning permission is subject to the signing of a section 106 agreement and pending a decision from communities secretary John Denham, which is expected by the end of January 2010.
UK-based Barton Willmore has been appointed as the planning consultants for the project.