Contracts are understood to have been exchanged for a building intended to serve as the hub of a planned new Charedi community in Canvey Island in Essex.
Several families from Stamford Hill in north London are thought to have bought houses in the town on the Thames Estuary although none have yet moved in.
The site of the former Castle View School which has been vacant for four years is in the process of being acquired by a Charedi philanthropist.
It would provide plenty of space for schooling as well as other communal facilities. The plan to set up a new Orthodox community has been driven by a shortage of affordable housing especially for larger families in the capital.
Canvey Island is one of several locations in Essex being actively explored by different groups within Stamford Hill. The others include East Tilbury and Westcliff.
A source close to the Canvey Island project said that he hoped families might start moving in some time before the end of next month.
The former school site had become available from Essex County Council after local developers pulled out.