Taylor Wimpey is looking to build more than 300 new homes in the Aberdeenshire town.
Plans have been submitted for 335 properties in Inverurie to tackle affordable housing issues.
Developer Taylor Wimpey has lodged the proposals to Aberdeenshire council for the development, which is a 10 minute walk from the town centre.
A quarter of the new homes will be classed as affordable homes to rent, while 10 per cent will be affordable homes to buy.
Paul Hughes, strategic land manager for Taylor Wimpey, said: "What we are presenting here is a blueprint for sustainable growth that respects Inverurie’s market town character while giving those priced out of the market a chance to get a home of their own."
He said Souterford was the "most logical development site in Inverurie". The new development will cost in the region of £62m.
Towns in Aberdeenshire have seen some of the biggest rises in price per square metre of properties in the past 10 years.
According to figures from Halifax, the three towns experiencing the largest rises were Peterhead, Inverurie and Montrose.
Some information contained herein may have changed since it was first published. SmartNewHomes strongly advises you to seek current legal and/or financial advice from a qualified professional.