This is the first detailed planning approval for the joint venture and the project has an expected end value of £50 million.
It is part of a planned £150m redevelopment of the 88 acre site.
Housebuilding is expected to start on site in April, with the first homes completed by the end of the year.
Goodyear still occupies 18 acres of the 88 acre site, having leased back the land from St. Modwen. Outline planning permission was granted in 2007 to redevelop the remaining 70 acres to create a mixed-use development, including retail, residential and the retention of the Sports and Social Club. Ground works is already underway on site.
The joint venture agreement between St Modwen and Persimmon was established in August 2010. It allows for 2,000 homes, with a total end value of £300m, to be built on seven St. Modwen-owned sites across the UK over the next five years. In addition to the Goodyear site, other schemes include a £1bn community at Glan Llyn in Newport, South Wales for which a planning application for 300 homes was recently submitted.
St. Modwen chief executive Bill Oliver said of the Goodyear planning approval: "This is a major milestone achieved under our joint venture agreement with Persimmon and underlines our ability to unlock value from the longer term residential assets within our landbank, accelerating the use of our residential land stock and improving profitability."
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