Around 8,500 new
houses will be built in Northamptonshire following a funding injection from
Homes England, the government’s housing delivery agency.
Located within an
hour of London and Birmingham and inside the Cambridge/Oxford corridor, the two
new residential schemes will help create around 3,000 jobs as well as schools,
leisure and commercial space.
The developments in
Kettering and Wellingborough have been made possible with a £70 million loan
from Homes England.
The schemes have a
projected combined value of £2.5 billion over their lifetime, which is
estimated to be 20 years.
The agency has
agreed the loan as part of its £4.5 billion Home Building Fund, which provides
development and infrastructure finance to home builders. The investment will be
used to create roads, utilities and other works to enable the delivery of homes
at Kettering and at phase one of the site at Wellingborough.
Sir Edward Lister,
Chairman of Homes England said: “We’re working with partners across the country
to ensure land is available to build more new homes where they’re most needed.
“Providing
infrastructure upfront is key to unlocking significant housing growth and Homes
England’s investment in Kettering and Wellingborough will enable two major
housing projects to be delivered after many years of delay.”
