The old Rugeley power station site is to be redeveloped into a new neighbourhood.
Vistry has bought the brownfield site from Engie with outline planning permission for 2,300 homes.
The development will also include an all-through school, riverside park, commercial space, and homes across a range of tenures including affordable, private rent and open market sale.
Vistry Group chief executive Greg Fitzgerald said: "This major acquisition perfectly plays to the strengths of the group 鈥撀爎egenerating a large brownfield site into thousands of high-quality, mixed tenure homes, whilst using our placemaking skills to create a thriving new neighbourhood."