The development around Cambridge North Station will be one of the first schemes to be delivered by the joint venture between Network Rail Property and developer bloc.
Blocwork is being set up to deliver over 40,000 new homes over the coming decade.
Plans are already underway to regenerate the former freight sidings, with a Novotel Hotel and the over 75% let One Cambridge Square office building already successfully delivered.
Masterplan consent was secured last year for the next phase of the mixed-use regeneration scheme on former derelict railway sidings, including outline planning permission for 425 residential units as well as 53,700 sqm of commercial space.
The ambition for Cambridge North residential quarter is to create an ultra-low car use neighbourhood. Located just two and a half miles from Cambridge City Centre.
Robin Dobson, Group Property Director at Network Rail said: “This is a fantastic opportunity to unlock disused railway land and create a new residential quarter adjacent to Cambridge North station.
“As the largest owner of brownfield land in Great Britain, we are able to unlock strategically important sites such as this as we continue to play a central role in delivering sustainable housing to drive future growth.
“We look forward to working with all neighbours and key stakeholders such as The Crown Estate to deliver a new neighbourhood which acts as a catalyst to adjacent sites.”