The Mayor of Luton joined representatives from the council and its development partners at an event to see how the New Homes for Luton programme was progressing.
Wates Living Space hosted the event, taking the guests on a tour of the Farley Meadows development.
Work on the scheme began in 2011 and is scheduled to be completed later this year.
It will provide 360 affordable family homes across six sites in Luton.
The programme is being delivered by Wates in partnership with Luton Borough Council, Catalyst Housing Group, Luton Learning and Community Partnership and the Homes and Communities Agency.
Councillor Tom Shaw said: “With very limited land available, and an ever increasing demand for housing in the town, we will continue to do what we can to provide new homes for Luton residents.
“We are proud to be working alongside committed partners such as Wates and Catalyst who are not only building new homes and creating better lives for families in desperate housing need, but the whole scheme is also boosting the local economy through job, training and apprenticeship opportunities.
“While there is still a long way to go, this shows that good progress is being made, and it is important that we take some time to reflect on this fantastic achievement.”
Project partners have worked together throughout the scheme to create on-site apprentices, educational work experience placements and vocational mentoring.
Director of Development at Catalyst Housing, Julia Moulder, said: “Through New Homes for Luton we’re building much-needed homes to fit a wide range of housing needs.
“We would not be able to achieve this without the partnership with Wates and Luton council.
“As well as building much-needed homes fo the people of Luton, this phase of the project has provided local job opportunities.
“Working with Wates, we have given 24 local young people the chance to start apprenticeships in business or construction, and a similar number of placements for 16 year olds.”
The range of two and three-bedroom homes are available through the government’s 5% deposit Help to But scheme.
Phase one of the scheme saw the transformation of three previously derelict unviable sites to create attractive and sustainable neighbourhoods totalling 150 new homes, this was completed in 2012.
The joint venture is currently delivering phase two of NH4L, which will see Wates construct 200 new homes across three other sites in Luton.
Andy Fancy, regional managing director, Wates Living Space, added: “From the outset, the vision for the New Homes For Luton programme has been to create an extensive range of high quality and sustainable homes that ultimately bring with them an enhanced quality of life for the people of Luton.
“Building affordable homes is only a small part of what has been achieved with Luton Borough Council and its development partners.
“Throughout the work, we have collectively shared a deep-rooted commitment to creating thriving tenure-blind neighbourhoods that ultimately leave a lasting positive legacy for the local community.”