The supermarket giant has been in deadlock negotiations with construction company, the Lindum Group, but have finally completed the land deal with them and are now in official ownership of their part of the site.
Alongside the new homes, which are already well under construction, this latest news brings forward the hope that a new supermarket will soon be in sight for the town.
Tesco spokesperson Mark Thomas said: “We’re really pleased to have reached this stage in the process with our partners Lindum, and to have taken ownership of the site.
“It’s great to see the new homes on site now completed too.
“We’re looking forward to bringing a new store to Mablethorpe and creating hundreds of jobs as part of the major regeneration at Golf Road.
“We will provide an update to the community on our timescales as soon as we can.”
But in light recent news that Tesco have halted construction of stores in Immingham and Ely, residents are concerned the supermarket giant will fail to build the store on site and sell the land due to their collapse in profits.
A Community Open Day was held in the town on Friday so residents could see how the houses are progressing on site, as well as offering a chance to speak with Lindum and check out the housing options that are available.
180 homes are planned for the site, which includes 120 homes for Waterloo Housing to offer at a mixture of affordable rental properties and shared ownership.
The remaining 60 are to be sold out right by Lindum, but will be built in phases based on demand.
A number of homes owned by Waterloo Housing will be ready to inhabit as early as December, with others to follow in January and March 2015. All of their homes will be ready by late summer 2015.
Everyone who applies for these houses will all have passed the local connection criteria, which ensures that the housing stays local and gives these housing opportunities to local people.
To apply for the affordable rent and shared housing, express your interest before it is too late. Y
ou can either visit: www.housesdirect.org.uk or call 0800 435 016.