A Norfolk council hopes to build 35 new homes near Norwich.
The properties in Thorpe St Andrew are the ambition of Broadland Council, which has spent "considerable time" trying to bring the plans to fruition.
The development in Plumstead Road East would be led by Broadland Growth Limited, a venture owned by the council, which has already completed two housing projects in the city outskirts.
The company is set to develop a business plan for the scheme in "due course".
READ MORE: Campaigners' delight as they snap up woodland near one of Norfolk's 'natural wonders'
Steve Riley, cabinet member for finance at Broadland Council, said: "We've already spent a considerable amount of time on this but it will be dependent on capital - meaning we do not have much headroom.
"This is something the council want to do but it is not easy because the market conditions are still not ripe and many properties are still stagnating and not selling."
The council has recently taken on full ownership of Broadland Growth Limited, previously a joint venture with Norse Group, and would retain all profits from the scheme.
The area has already been earmarked for a huge development by Hill Residential.
The company plans to build 300 houses and create a 150-acre community woodland park at Racecourse Plantations.
An initial outline application was submitted in late 2016 and attracted widespread opposition from campaigners, local councillors and the county's wildlife trust over the loss of woodland.
While it was initially shot down by Broadland Council, the decision was appealed and in 2019, permission was granted by planning inspectors for the scheme to go ahead.
The developers are continuing to push through conditions which would allow it to start work.
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