New houses would be built across the road from 150-home site currently under construction.
New plans have been lodged for up to 94 new homes at Chivenor Cross, near Braunton.
Outline planning permission is being sought for a 3.8-hectare site on the north side of the A361 – on the other side of the road to a 150-home development currently being built by Bovis Homes.
The proposal for the ‘grade 3’ agricultural land would provide a mix of different house types, including affordable homes.
There would be public open space provision with a play area, and a small shop could also feature in the final plans.
A design and access statement submitted with the application states: “This is an opportunity to create a development that is diverse, with a mix of sizes that thrives for good design for the benefit of the local community.
“The proposal would bring in £10-15million in new investment. The contribution to the local economy will also be in the form of creation of construction and supply chain jobs.”
It said the site was not allocated for development, but it had been recognised as having development potential.
Members of the public have until December 7 to comment on the plans.