The council has sold the former Hermitage Academy site to Taylor Wimpey West Scotland, which has planning permission for 95 homes at the site. Construction work is set to start in the next few weeks.
Cllr Gary Mulvaney said: "This is fantastic news for the area. There are already over 50 houses and flats on another part of the site and when construction of the new homes by Taylor Wimpey West Scotland gets underway there will be a significantly increased supply of houses made available for local people and, others hoping to move to this area.
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"As a council we are committed to working with Taylor Wimpey West Scotland to support our local economy and community by creating and supporting local jobs and apprenticeships.
"The funds from the sale will benefit our communities by going directly to providing services they tell us are important to them."
Stephen Andrew, Technical Director for Taylor Wimpey West Scotland, said: "We are delighted to confirm that we have completed our land transaction for the former Hermitage Academy site on Cardross Road with Argyll and Bute Local Council, which will allow us to build our first development in Helensburgh.
"We hope to begin pre-construction works within the next few weeks and naturally we will keep the local community informed of our planned site start that will mark the first milestone of this exciting development."
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