The government’s housing accelerator has today announced a deal unlocking 3,000 homes in Rushcliffe, Nottinghamshire, to support the delivery of much needed new housing in the area.
Homes England has acquired 250 acres of the 605 acre site, known as Fairham, and will support all aspects of the delivery to accelerate the creation of a high quality and diverse community.
The acquisition will see Homes England working with other land owners, CWC and local authority Rushcliffe Borough Council, on a project that will deliver 3,000 homes and 100,000 square metres of employment space – equivalent to more than a dozen football pitches – over the next ten years.
The site has been secured through the Government’s £1.3 billion Land Assembly Fund, which is used to acquire land needing work to get it ready for the market, and Homes England will accelerate the delivery of the scheme by providing infrastructure loan funding to CWC.
Minister of State for Housing, Kit Malthouse MP, said: “This Government is on an urgent mission to deliver 300,000 new homes a year by the mid-2020s, helping a new generation to realise the dream of home ownership.
“Our £1.3 billion Land Assembly Fund is supporting more than 3,000 new homes in Rushcliffe but it is also about building a community, with new space for culture and commerce – as we create a place the people of Nottinghamshire can be proud of.”
Executive Director for Land Stephen Kinsella said: “Homes England is committed to working creatively with local authorities that have clear growth ambitions and we have worked closely with Rushcliffe Borough Council to ensure this site is unlocked to deliver new homes in an area of high affordability. Our acquisition of this land is an example of how Homes England can provide more certainty for the delivery of infrastructure and will accelerate overall development. Homes England and CWC will work jointly as Master Developers to deliver the primary infrastructure to create a high quality sustainable urban extension.”