A mixed-use scheme is being drawn up for land next to Newbury College.
Greenham Trust, Aldi and property and construction business the Feltham Group are working on a plan for an Aldi, a care home, a hospice, 90 homes and an electric vehicle charging station and consultation has begun.
Funds raised through the development, known as Mayfield Point, will support both the work of the college and charities and community groups through the trust.
Trust chief executive Chris Boulton said: “Greenham Trust generates surplus income from leasing commercial property to businesses both large and small and gives this income back to the local community via charitable grants.
“Most people who live in the local area are likely to have used a facility, attended an event, or benefitted from a service delivered by an organisation that has received a grant from Greenham Trust.
“Our involvement in the Mayfield Point project will enable the trust to grow the amount of charitable funding available significantly and support even more charities, community and voluntary groups across the region.”
The college has released the land, which is to the east of its site, as part of its development strategy.
Principal and chief executive Ian Wolloff said: “Funds generated by this development will allow the college to continue with the significant growth of provision for young people, adults and local companies as part of the Government’s plans for a skills-led recovery from the pandemic and in the growth in local ‘green jobs’.
“The development will also boost the opportunities for students to gain valuable work experience and to undertake apprenticeships in key sectors.”
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