The city deal funding was approved on Friday.
Transport Secretary Fiona Hyslop said the decision was “a great example” of new public transport being linked with a new housing development.
She said: “The new station will provide sustainable transport options, better connecting people to employment, education, leisure and business opportunities. We welcome this innovative plan for the delivery of a new station.”
The station will have two platforms connected by a footbridge with lifts, as well as waiting shelters, cycle storage and ticket machines.
A lease was previously agreed in July to allow Network Rail to take over council land on a 175-year deal to provide the parking area at the station.
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