Multi-million pound deal for 5,750 new homes in Kent
£53.8 million deal will provide more than 5,750 new homes.
Housing and Planning Minister Gavin Barwell today (16 March 2017) announced a £53.8 million deal that will provide more than 5,750 new homes in a suburban village near, Ashford, Kent.
The minister welcomed this latest deal, which is part of the government’s £3 billion Home Building Fund. The Fund is designed to boost the number of homes built in England.
Under the terms of the loan, the Homes and Communities Agency will provide funding for essential services to help deliver the first phase of the scheme. It will help unlock land for development and speed up delivery of new homes at the site.
The 4-phase development is 1 of 8 strategic infrastructure projects in the region. Together they aim to create new jobs, as well as deliver affordable homes, retail and cultural facilities over the next 20 years.
Housing and Planning Minister Gavin Barwell said:
We want to fix the broken market by building more homes so that housing becomes more affordable.
Our aim is to help those who are locked out of the housing market. As one of the largest developments in Kent, Chilmington Green will not only create thousands of homes, but will also create jobs and opportunities for hundreds of people.
Chief Executive of the Homes and Communities Agency, Nick Walkley said:
This huge investment shows our determination to get builders building and substantially grow the market in this country.
We’re working on a number of other deals, with builders of all sizes. We’re also using our investment and land to attract new entrants to the industry.
Frank Pennal, Chief Executive Officer, Close Brothers Property Finance, said:
We are proud to be part of a project which is investing in the future of UK house builders and is providing affordable homes for prospective owners.
SME house builders in particular play a critical role in making up the new build shortfall each year in the UK and supporting them to unlock their potential and contribute to new housing developments such as Chilmington Green is crucial.
Alan Hodson, Managing Director, Hodson Developments, said:
The support from the government’s Home Building Fund is very welcome. It means that we can focus on delivering the new homes that are so desperately needed and we are looking forward to getting started.
Robert Orr, Titlestone, Chief Executive Officer, said:
We are delighted to have played a part alongside the HCA in helping an experienced developer to create much needed new housing stock in the South East of England.
The attention that all parties have given to the design and quality of the housing means I’m sure Chilmington Green Village will be a great success.
Fixing our broken housing market
The recently published white paper – Fixing our broken housing market – sets out the government’s strategy for planning more homes in the right places.
The proposed measures will help make sure the housing market works for everyone. This includes those on lower incomes, tenants in the rental sector, disabled and older people.
This deal is the latest in a series of steps this government is taking to get Britain building – creating jobs and providing homes and security for hardworking people.
The next phases of the development will continue to demonstrate key white paper proposals. Essential infrastructure funding will help deliver the widening of the A28 road. All homes will also be built to energy and water efficiency standards.
Further information
Work is set to commence on site shortly.
Developers of the scheme are Hodson Developments.
The infrastructure loan has enabled the developer to secure development finance to deliver the first phase of housing.
Expected to be completed in 2022, the first phase will see the development of 1,500 new homes, along with new schools, a district centre and a community hub.
The second phase will deliver 1,124 new homes, as well as a primary school and new community amenities.
Phase 3 will create the Orchard Village local centre containing a further primary school and 1,559 new homes.
The fourth phase will create 1,567 new homes, Chilmington Brook centre with a primary school and a discovery park containing sports facilities.
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