The £26million scheme - complete with a public green area - will be built on a 12-acre site near the entrance of Chatelherault Country Park in Hamilton.
Chatelherault is the former hunting lodge belonging to the Dukes of Hamilton and the building is now a popular visitor attraction.
The new 79-home development, by Robertson Homes, will be on the site of a former sawmill just south of Ferniegair Village.
It will house more than 300 people and provide up to 40 construction jobs. The company said a further 100 supply chain jobs would be sustained.
John Murphy, managing director of Robertson Homes, said: "Our plans will create a new community in the next three years and breathe new life into what is currently a neglected site.
"We know that attention to detail is important and we've designed three new types of home which offer modern standards but which fit into the surrounding area.
"This development will offer families the chance to live in a quiet semi-rural area with great countryside views, easy access into the Country Park, and within walking distance of Chatelherault rail station."
The company said the public green would act as a "focal point" for residents. Improved access will also be created to the nearby Hamilton & District Golf Course.
Planning permission for the project, which is due to begin early next year, was granted by South Lanarkshire Council in November.
Robertson said they have been working on the scheme for the past eight years and have carried out an extensive consultation process.
Construction is expected to begin early next year with the first houses due to become available in October of next year.