The major scheme has been at the planning stage for almost nine years and initial plans were initially unveiled to the public in 2007, but a number of changes have since been made in response to public feedback received during the first period of consultation.
It is hoped that the changes to the planned extension of the town will help to reduce a probable rise in traffic generated by the scheme.
Stephen Bawtree, director of Pegasus Planning Group, said that the council would make a planning decision about the scheme next year, but indicated that the scheme would "be a big change [to Towcester] for the better".
If the planning permission is awarded, construction work on the scheme is likely to start in 2014.
Nick Scregg of Persimmon Homes commented: "A huge amount of work has happened behind the scenes since 2007 to ensure that the feedback we received was taken on board.
"This time was used to refine the layout of the development, to make sure that it will form a seamless, integrated extension to the existing town.
"It has also given us time to develop our proposals in conjunction with the relevant highway authorities, in order to ensure that the design of the relief road and its link with the A43 will relieve the congestion in the town which has frustrated residents and traders for many years."