The Government has created a development corporation for Greater Cambridge to boost regeneration, housebuilding, infrastructure and economic growth in the area.

A key role of the Greater Cambridge Development Corporation will be to invest in development sites and ‘unlock stalled and derelict land’.

In announcing plans to launch the regeneration body for the area, the Ministry of Housing, Communities and Local Government says it aims to ‘end the cycle of homes coming first and services catching up years later by developing land faster’.

‘Greater Cambridge is an area with huge potential that the new Development Corporation will help turn into more affordable homes, good jobs for local people and infrastructure that supports its communities,’ said housing secretary Steve Reed.

Chancellor Rachel Reeves added that the area ‘is a powerhouse for regional growth’.

‘Bolstering Cambridgeshire’s position as a global centre for science and enterprises,’ is another focus of the Development Corporation, said the Government.

Cambridgeshire and Peterborough Mayor Paul Bristow said he will work closely with the Corporation ‘to support delivery at pace and make sure that collaboration translates into real progress on the ground’.

Dan Thorpe, chief executive of business and academic membership organisation Cambridge Ahead, said: ‘It will be vital that the Development Corporation truly works in partnership with local leaders, is set up to deliver good growth with certainty and clarity, and acts in the long-term interest of Cambridge and its region.

‘Cambridge Ahead will continue to work with UK Government to build on today’s announcement and ensure that the momentum Cambridge has built translates into the jobs and homes this region and the country needs.’ 

The Government has already committed £800m for the Cambridge and Oxford area, to boost housebuilding, create jobs, improve transport links and regenerate sites.