Merton College, Oxford owns the land, which sits between the newly-opened Worcester Parkway station and junction 7 of the M5.
St. Modwen acting as master developer will work with other stakeholders including local authorities, adjacent landowners and the local community to help shape plans.
Mixed-tenure homes and new house styles will ensure affordable housing is delivered, while modern logistics facilities will facilitate local employment opportunities.
Guy Gusterson, Managing Director of Strategic Land & Regeneration at St. Modwen, said: “We are thrilled to be partnering with Merton College, which shares our commitment to sustainability and community, to create a destination for new homes and employment opportunities that builds on Worcester’s continued growth. “