Cala is gathering feedback from the local community on proposals for the site, which also include local transport improvements and green spaces, before a planning application is submitted to Central Bedfordshire Council later this year.
The site, which is located to the rear of numbers 175 to 229, High Street, is allocated for housing development within the Central Bedfordshire Local Plan.
A Cala Homes spokeswoman said: "The public consultation will present Cala’s plans to deliver around 147 high-quality homes, ranging from one to five bedrooms, 30 per cent of which will be affordable.
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"The plans will also deliver wider community benefits including further sections of the much-needed Arlesey Relief Road, open green spaces, and new pedestrian and cycling links.
Cala says it has committed to building homes that are operationally net zero carbon enabled before 2030, and plans for the Arlesey development incorporate a "range of climate-conscious measures" for future homeowners, including air source heat pumps technology – a low-carbon heating solution.
Each home will also have access to an electric vehicle charging point – helping residents to further reduce their carbon footprint.
The spokesman explained: "The homes will be built using timber frame construction, which is more carbon efficient than traditional building methods, accounting for around 20 percent less embodied carbon emissions.
"Using timber not only improves the embodied carbon of a building (due to timber’s renewability and ability to store carbon), but it also improves the efficiency of the overall building programme with resultant savings in construction emissions and waste.
"New areas of landscaping and extensive native tree planting will ensure the scheme is sensitively integrated with the local area, and new ponds will help protect habitat diversity and biodiversity."
The public consultation will run from today (July 21) until Thursday, August 4, at an in-person event and online.
The in-person exhibition will run until 6.30pm today (July 21) at Arlesey Community Centre, High Street, Arlesey.
An online exhibition will run from today (July 21) until Thursday, August 4, and can be accessed via the project website at www.arlesey.consultationonline.co.uk