Led by Choice Housing, the project will see the former Courtaulds textiles factory site transformed into a mix of new homes to meet the growing and diverse needs of local residents.
Accessed just off Minorca Drive, the development will also facilitate a public open space, landscaping and a children's play area. It will include a range of two,three- and four-bedroom houses with a number of these properties to be wheelchair accessible.
The new development, designed by Peter Byre of MHS Architects, will also be supported by a much-needed upgrade in infrastructure to the local area such as, roads, footways, and other services including ancillary works to include the diversion of an existing public sewer crossing the site and the installation of a new wastewater pumping station.
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Choice Group Chief Executive, Michael McDonnell said: "The population of Carrickfergus is growing and with it comes increasing demand for housing and other amenities to support this growth. This new development is forming part of this plan and the road infrastructure surrounding the development will be a vital element.
"There has been significant investment in the Mid and East Antrim area, this latest investment of £20m further demonstrates our commitment to addressing the growing need for quality affordable housing in Carrickfergus."
Choice is working in partnership with local South Down Developer McGreevy Construction Ltd to deliver the design and build, who undertook a series of community led consultations leading to planning approval by Mid and East Antrim Planning Committee in 2019 and updated approval in February 2022.
Sean McGreevy from McGreevy Construction added: "This is a significant housing project for the Carrickfergus area which, following consultation with the local community will be a welcome addition. The 146 new homes will provide safe, secure homes for more than 560 people."
This new housing development is expected to be completed by March 2025.
