The £3.8 million scheme replaced Housing Executive flats which were previously located on the West Green site.
The 37 homes are located at Dunville Park, Dunville Link, West Link and Abbey Road.
In total, the scheme provides 31 family homes and six apartments for active older people. As well as being built to Lifetime Homes and Secured by Design standards, on-site facilities include a ball game area and outdoor gym for sports enthusiasts.
Social Development Minister Mervyn Storey said: "I am amazed at the visible changes this new development has brought to the area. It has unmistakeably restored this disused site into an outstanding area for people to live.
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"The completion of this scheme is the result of hard work and determination from all parties including Clanmil Housing Association, the Northern Ireland Housing Executive and Redburn Loughview Community Forum."
Steve Amos, Chair of Clanmil Housing Group, said: "At Clanmil we are committed to providing high quality homes that are affordable for our tenants to live in.
"These new homes in Holywood have been designed and built to very high environmental standards. High levels of insulation and particularly efficient central heating systems make them more energy efficient than standard houses and considerably cheaper for our tenants to run.
"It is wonderful to see how well these families have settled in and that they are enjoying life in their new homes and new community. We wish Linda and Leslie and Susan and her daughters, and all of our new tenants here, a very merry Christmas in their new homes and many happy years to come."
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