The plans will see the creation of new affordable homes and a park on Ballinderry Road.
The scheme boasts a range of house types that will cater for the needs of people currently on the social housing waiting list. The inclusion of affordable housing for sale will provide an opportunity for individuals entering the market to have access to a high-quality residential environment.
Chairman of Lisburn & Castlereagh City Council's Planning Committee, Alderman James Tinsley, said: "I fully welcome the Planning Committee's decision today to approve an application for 120 new affordable homes to be built on the Ballinderry Road in Lisburn.
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"This major investment by Apex Housing Association will meet our existing and ongoing social housing need in the city. It is also an opportunity for local families to consider the option of purchasing a home through the Apex Four Build Scheme.
"This is a high quality residential development and I am delighted to acknowledge the contribution of the Council to ensure that the design of this proposal will contribute positively to the urban fabric of Lisburn. In particular, I appreciate the approach that Apex has taken to continue the management of the adjacent wetlands.
"The quality of the design and the inclusion of the play park in the central green is to be commended."
Construction on the new homes is set to begin in 2023.
