Contracts for the first site to be unlocked through the government’s Get Britain Building Fund have been exchanged this week.
Cheeseman’s Green, near Ashford, Kent, has been granted £2.3m of funding for the release of 100 new three- and four-bedroom family homes, which will be developed by Crest Nicholson.
This will form the first phase of the scheme, which has planning consent for more than 1,000 new homes and leisure and community facilities.
Crest Nicholson has been shortlisted for £25.2m of loan funding investment across eight sites in total under the Get Britain Building programme. Over the next two years, the proposed funding for these sites is expected to enable Crest Nicholson to bring forward nearly 900 additional new homes.
Crest Nicholson expects to be able to release a further 5,838 homes in the future.
Crest Nicholson’s Bath Riverside is another of the commissioned projects and is due for consideration by the HCA in the coming weeks.
Stephen Stone, chief executive of Crest Nicholson, said: “With every £1 spent on building work estimated to generate £2.84 of wider economic activity, this funding allocation is not only great news in terms of the delivery of much-needed new housing, but will also inject a welcome boost into local economies.”
annabel.dixon@estatesgazette.com
