The consortium will build Clemton Park Village – an apartment complex with one and two bedroom apartments priced between $340,000 and $560,000.
About 100 dwellings will be targeted at residents over 65 years old at a later stage.
Australand has also been granted approval to build 9500 square metres of retail and commercial space, as well as a childcare centre on the site.
In May, Australand bought the 38-hectare Blacktown golf course, in Sydney’s west. According to the AFR, Australand will build 700 dwellings on that site configured as detached homes, townhouses and low rise apartment blocks.