Lindum and Longhurst Group are working on plans to build 53 affordable homes in an empty field off Brant Road in Waddington.
If approved, the latest development would be built on a section of land between a flood plain and existing homes on Brant Road.
It would be a mixture of two, three and four-bedroom homes and the scheme would be similar to the development on the corner of Brant Road and Station Road.
The homes would be available on a range of low-cost tenures, such as affordable rent and shared ownership.
If approved, the scheme would also include public open space with a play area, as well as extensive landscaping to help blend the development into the existing surroundings.
Before a formal planning application to North Kesteven District Council, Lindum and Longhurst group want the opinions from people in the local area.
As part of the consolation, a brochure about the site is being delivered to nearby homes.
Lindum Group development manager Graham Daubney said: “Further to our highly successful project with Longhurst Group on Boolean Fields we are aware of the need for this kind of development in Waddington.
“It will provide a unique opportunity for people in the area, including young families and key workers, to get a foot on the housing ladder in these difficult times.”