Housing agency Homes England has agreed a £61m investment with developer Urban&Civic plc which will begin the delivery of a 6,500 home community at Waterbeach in Cambridgeshire.
The infrastructure loan from the agency’s Home Building Fund will accelerate and broaden delivery of the site and in doing so, ensure direct support to the housebuilding sector as it remobilises following the COVID-19 pandemic.
The loan will fund key strategic infrastructure at Waterbeach, including roundabout improvements to create a main access route from the A10, road, drainage and utility works to open up the first phase of the development and community facilities.
Housing Minister Rt Hon Christopher Pincher MP said: “Building the homes we need is central to the mission of this Government, which is why we have safely reopened the housing market.
“This £61 million 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.”