Homes England has agreed a £30m loan to Swan Housing Association to enable two major developments in Basildon, Essex.
The schemes comprise 760 new homes and around 86,000 sq ft of commercial space across two sites.
Laindon Place (pictured) will see 210 homes and around 75,000 sq ft of commercial space replacing the former shopping centre. The development will include a new high street with shops, a supermarket and a health centre.
The remaining 550 homes will be built in three phases at Beechwood Village, formerly called Craylands Estate. This will add to the 400 homes, shops and community space from earlier phases.
Swan Housing Association is working in partnership with Basildon Borough Council to deliver the schemes. Homes England agreed the loan as part of its Estates Regeneration Fund. Work is expected to be completed by autumn 2024.
Sir Edward Lister, chairman of Homes England, said: “The Beechwood Village and Laindon Place regeneration projects are key priorities for Basildon and we’ve worked closely with Swan Housing Association to ensure the new homes local people need can become a reality.”
Geoff Pearce, executive director for regeneration and development at Swan Housing Association, said: “These homes will be built both using our state-of-the-art modular factory in Basildon and by traditional methods of construction.
“This partnership helps Swan towards our ambitious target of building an additional 10,000 homes by 2027 and Basildon towards its strategic growth goals for the borough.”
Minister of state for housing, Kit Malthouse, said: “This funding not only supports more than 760 much-needed new homes, but further strengthens a community that residents can be proud of through new commercial and civic spaces for the people of Basildon.”
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