The original proposal was in 2016. WBC applied for funding to MHCLG under the Garden Village scheme, applications for which closed Aug 18. The member for Wokingham was initially enthusiastic and then became less so, possibly when it become obvious that a significant part of the land was owned by the then member for Newbury.
The original proposal details are still on the WBC web site. There was also a Transport Review done by Phil Jones Associates, funded by the Thames Valley
LEP» , which is possibly on the WBC web site
http://www.wokingham.gov.uk/EasySiteWeb/GatewayLink.aspx?alId=422580 but currently times out.
The Berkshire Live report doesn't seem to add much new to the original report, so could be seen as a rehash of old news.. 15,000 houses equate to a potential population of 36,000 people, quite a village. The other proposal raised at the same time was more housing round Twyford/Ruscombe, which I believe is happening.
On Theale, when I last went to Newbury there is a considerable amount of "cut up" land west of Theale station next to the lake, so wasn't quite sure what that was about.