Youngsters first got the backing of Edwinstowe Parish Council for the development in 2001, but after a number of false starts, planning was finally granted for the newly-named Jubilee Park in the village.
The building project, which will now take between seven and 10 weeks to complete, will include grass banks to reduce noise for nearby residents, while remaining visible to target possible anti-social behaviour.
Parish council chairman Coun Celia Brooks said the park has been classified under Fields in Trust - a national programme which prevents future residential development on designated playing fields.
Future plans also include building an adult gym and developing a nature reserve on the park.
“This is a space for the whole community and a very positive move for the village,” Coun Brooks told Chad.
“There is overwhelming support for this from people within the village and this is a facility that we envisage will be used by young people from eight to 18.”
But the development has met opposition from the Friar’s Park Residents Group, who claim a lack of consultation by the parish authority and that their objections have not been listened to.