The project, spearheaded by investment and management firm Wallace Land, would bring up to 500 permanent jobs to the area if given the go-ahead by planners.
Blueprints recently lodged with the council also indicate plans to create a slip road on to the M9 at junction 3 as well as a new neighbourhood centre, foodstore, petrol station and long-stay car park.
Around 150 of the planned new homes have been allocated for affordable housing while a community park, along with land for sports and leisure uses, would be created.
The proposals for the 48-hectare scheme – on Blackness Road in Burghmuir – include a £200,000 cash pot to fund town centre improvements in Linlithgow.
Jason Wallace of Wallace Land said the multi-million pound project would “benefit Linlithgow considerably” and provide a “much-needed boost to the town”.
“We have undertaken considerable community engagement on this project and have already made significant adjustments to our proposals based on the outcomes from this,” he said. “The development is a win-win for Linlithgow and we would like to thank the community for their considerable input to this process and look forward to continuing the dialogue with them.”
Bruce McCallum, chair of Linlithgow and Linlithgow Bridge Community Council, hailed the prospect of creating hundreds of new jobs while boosting the town’s stock of affordable housing but added that this had to be considered against losing some green field sites.
“The community council cannot advise for or against the proposal before it goes before public consultation,” he said. “The positive aspects of the bid are that there will be 150 affordable homes being built, which are greatly required in this climate, and affordable rented accommodation is badly needed.
“Some of the houses are also going to be equity sharing which is needed for young people trying to get on the housing ladder, so that is welcome news as well.
“The M9 on/off junction has been required in Linlithgow for many years. If granted, that must be one of the first things that is constructed, which was a stipulation we put to Wallace Land and that has been granted in principle.
“One of the negative elements associated with the development would be that we are using up some of our green belt sites.”
But he added: “This is an exciting proposal and we look forward to holding discussions with the public.”
A public consultation over the plans, hosted by Linlithgow and Linlithgow Bridge Community Council, is expected to take place in March.