A £500M city project to build 480 homes and employment space for 4,500 new jobs will be decided by councillors today.

Thomas White Oxford (TWO), a company owned by St John’s College, Oxford, wants to build Oxford North on land near the A44, A40 and A34 in the north of the city.

It is one of the biggest projects to be tabled for the city for years.

The city council had initially been opposed to TWO’s plan to allocate 25 per cent of all housing as affordable.

But following discussions between the authority and the company, TWO has said it can now ensure 35 per cent of the housing will be affordable.

It remains below the city council’s target of 50 per cent – but planning officers have said they are happy with that compromise.

READ MORE: Linton Lodge Hotel expansion upsets North Oxford residents

The city council’s West Area planning committee will tonight be presented with plans and asked to decide on way or another.

Many representatives in North Oxford are opposed to the project.

Paul Buckley, who represents Wolvercote and Summertown on Oxfordshire County Council, said residents had expressed ‘horror’ about the project – and particularly its centrepiece, the Red Hall.

READ AGAIN: Developers still don't know how many affordable homes will be built at Oxford North

But the plan already has been allocated government money, after £10m of Housing Infrastructure Fund money was accepted by the city council.

The meeting will be open to the public and will start at Oxford Town Hall from 6pm.

It will take place in the Town Hall’s Assembly Room to accommodate more people to attend than would normally be expected for a typical planning meeting.