The Government has committed £45m in funding to deliver thousands of houses in Cambridgeshire.
The new funds, which come out of the Home Building Fund, are designed to help property developers Urban&Civic accelerate the delivery of 4,500 homes near Huntingdon.
The money is a loan from the Homes and Communities Agency, the Government’s national housing and regeneration delivery agency for England, and will help fund the provision of infrastructure across former airfield at Alconbury Weald.
Announcing the deal at international property conference MIPIM HCA chief executive Nick Walkley said: ‘This deal is exactly the sort of thing we are here to do – providing the means to realise the full potential of development sites and provide the impetus to enable a real transformation in local housing markets.
‘Alconbury Weald is a major development of recognised quality and we will work closely with Urban&Civic to accelerate the new housing and community facilities that this site can delivery for a major growth region of the country.’
Housing and planning minister Gavin Barwell said: ‘Speeding up house building is one of the key measures we set out in our Housing White Paper, so that we get the right homes built in the right places.
‘The £3bn Home Building Fund helps do just that by unlocking large housing sites like Alconbury Weald.
‘Having visited the development last year, it will not only provide much-needed homes, but also space for new businesses as well as schools and community facilities.’
