The council has today announced an investment of a massive £128 million on a single Milton Keynes estate.
The money will pay for Serpentine Court to be demolished on the Lakes Estate and 593 new homes to be built in its place.
Of these, 306 will be new council houses, said Labour's Councillor Nigel Long, who is the Cabinet member for housing and regeneration.
The remaining 287 homes will be sold off to help finance the improvements.
The scheme is due to get the approval of MK council's Cabinet next week.
It follows a ballot held on the Lakes Estate in November 2018, when 93 per cent of Serpentine Court residents backed renewal of the area.
Since then residents have been working closely with the council to refine the proposals.
These now include an extra care scheme for 70 frail and elderly residents, a community hub, two new playgrounds, a nursery, secure parking areas for vans, improved roads and traffic calming measures.
Cllr Long said: “The residents of Serpentine Court made a great decision in November 2018 to demolish Serpentine Court and rebuild it. The discussions on the best way forward then saw a range of other measures put forward that will benefit the whole of the Lakes Estate.
“It highlights for me what can be done when the Council listens to and trusts communities. I am a great believer in working with people to find the best solution to local needs. This has to be central to all future regeneration and estate renewals.”
The proposed investment is being undertaken in two phases:
Phase A will cover 191 replacement council houses for Serpentine Court residents, 112 new homes, the community hub, commercial space for businesses relocated from Serpentine Court, and an energy centre.
Cllr Long said: “Phase A is basically creating new homes for people and businesses that will be demolished in Phase B. Phase B will see the demolition of Serpentine Court and the building of 288 new homes including extra 88 council houses and 70 care home apartments.”
Cllr Long added: “Milton Keynes Labour led Council is committed to improving all estates across Milton Keynes and not just the original seven regeneration estates.
“We are committed to working with communities to find the best solutions to local housing challenges and wider community needs.”