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The newly formed JV will focus on the redevelopment of four council-owned sites at York Road, West Street, Reform Road and St Cloud Way.
The sites cover more than 6.3 hectares and together have the potential to deliver around 1,200 homes alongside new shops, restaurants, offices and a stunning new cultural quarter right in the heart of the town.
The regeneration represents a significant opportunity for Maidenhead and is the biggest release of public land in the borough for several years.
The redevelopment of the four sites is expected to generate significant income for the council associated with the arrival of the Elizabeth Line (Crossrail) in the town which will be reinvested in improving council services and facilities for residents.
Countryside is an award-winning housing developer and was selected from a shortlist of five bidders following a rigorous and competitive tender process.
The selection means that the Royal Borough can now press ahead with the regeneration of the town in four key locations. Subject to securing planning consent, construction could start as early as 2018.
Cllr Simon Dudley, leader of the council, said: “With the Elizabeth line (Crossrail) arriving in 2019, we have a once in a lifetime opportunity to deliver an ambitious redevelopment programme right at the heart of the community.
“Countryside made an impressive bid and we are looking forward to working with them to rejuvenate the town.
“The council will retain considerable control over how the sites are developed and is committed to providing high quality homes, including genuinely affordable options for local residents so we can build a borough for everyone.”
Richard Cherry, Chief Executive of Partnerships at Countryside said: “In partnership with the Royal Borough of Windsor & Maidenhead we are going to create a thriving town centre with new homes, shops, businesses and community spaces.
“We will integrate existing residents with new neighbours and create an attractive cultural quarter where people can relax.
“Maidenhead will become the distinctive heart of the community welcoming, attractive and accessible to all, providing a strong economic focus for the wider community. Principally, we will create homes for people and a place for everyone.”
As well as new homes, the redevelopment of the four sites will deliver high quality office accommodation to meet the growing demand from businesses wishing to locate in the town.
Maidenhead is attracting a range of new commercial occupiers, including shipping company Maersk Line, Blackberry and Rank Leisure.
Consultation will take place on detailed plans for each of the four sites before any planning applications are submitted.