A 21-acre site of land in South Lynn has been bought by West Norfolk Council for £850,000.
The site, which is in the Nar Ouse Regeneration Area, has outline planning permission for a number of uses including housing, retail and commercial development opportunities.
Alistair Beales, cabinet member for corporate projects and assets, said: “Driving local economic and housing growth are key priorities for us. Housing on this site had stalled long before the administrators came in.
“By purchasing this site, we can now take control, clean it up ready for development and then determine the best development options in order to provide much needed housing and employment opportunities.”
Parts of the site have become overgrown, and the council will be looking to tidy these areas as an interim measure in the near future, to improve the environment for local people.