Persimmon and Barratt Homes have won their six-year fight to develop housing on the south side of the former Stella B power station site on the banks of the Tyne.
The joint venture has been given the go-ahead by the Secretary of State to build 400 riverside homes on what is Britains largest brownfield reclamation site.
The plan has been the focus of two public inquiries and three high court battles.
Development agency One NorthEast and Newcastle council have invested £33.5m, including £7.1m of European development funding, to reclaim and service the 227-acre (92ha) site which housed the Stella B power station and the Anglo Great Lakes graphite plant.
The northern section of the site will be developed as Newburn Riverside Industry Park by UK Land Estates and St Pauls Developments, and will provide more than 1.9m sq ft (180,000 sq m) of industrial space.
The land is located close to the A1 and the A69 coastal road on Newcastles western fringe, in traditional industrial heartland. Remediation work is due to be completed in early 2002, while the scheme is due for completion in 2007.
It has received more than £46m of public investment and aims to generate more than £100m of private sector investment. The project will create around 5,000 jobs.
EGi News 20/12/01
