The 127 home Cedar Drive development on the old Sampson site, Rood End Lane, is one the biggest of its kind in the borough and will include 20 affordable housing properties.
As part of the deal to get planning permission the construction giant is pledging to give Sandwell Council £254,361 to maintain parks and open spaces in the borough.
Elaine Taylor, regional sales and marketing director for Taylor Wimpey, says: “We are committed to ensuring this exciting new development in Oldbury offers much more than just high-quality properties for local people.
“Our investment of more than £250,000 will ensure that the whole community can enjoy fantastic open space on their doorstep, delivering a sustainable new homes development that will both complement and enhance the local area.”
Through the New Homes Bonus scheme the Government will match-fund the council tax raised from the building of each of the development’s 127 new homes, with the money provided directly to the local authority.
The latest phase of the Cedar Drive development is now on sale, offering three and four-bedroom homes from only £158,500.