Homes England has confirmed it has agreed a £61m investment backing Urban&Civic’s Waterbeach Barracks near Cambridge.
It follows discussions to back the 6,500-home scheme with a 10-year facility, reported by EG last November.
The finance comes from the agency’s Home Building Fund and will be used to accelerate the delivery of the site as it remobilises following the Covid-19 pandemic.
Specifically, it will be used to fund key infrastructure including roundabout improvements to create a main access route from the A10, road, drainage and utility works.
Housing minister Christopher Pincher said: “This £61m investment from Homes England, the government’s housing accelerator, will deliver the building blocks of a community that people will be proud to call home, including a new primary school, health centre and community centre.”
Urban&Civic, in partnership with landowner the Ministry of Defence Infrastructure Organisation, received planning consent for 6,500 homes at the former Royal Engineers barracks a year ago. It will award the first £15m of construction contracts to local businesses in the next six months, with a goal to begin construction this year and the first homes to be occupied by 2022.
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