Move highlights commitment to locally-led growth, investment and regeneration at a pivotal time for the region
Homes England and Cambridgeshire & Peterborough Combined Authority (CPCA) have formalised their ongoing housing and regeneration efforts with a Strategic Place Partnership (SPP), as part of the Government's plans to deliver 1.5 million new homes over the next five years.
It builds on an established track record of partnership work across Cambridgeshire and Peterborough. Cambridgeshire is home to Northstowe, one of Britain's largest new settlements, and a place 1,400 households already call home. Once completed the development - which Homes England acts as master developer for - will feature 10,000 homes, a vibrant town centre, and strong community infrastructure.
CPCA and the Agency will work together to bring more investment to the region, starting with developing a shared plan to accelerate local housing, regeneration and growth proposals.
Over the next eight weeks, Homes England will invest over £100,000 alongside existing government funding to accelerate plans to develop Peterborough Station Quarter. Peterborough is one of the country's fastest growing cities, and in Cambridge, where average house prices and land values are amongst the highest in the UK, funding is pledged to support the delivery of much needed affordable housing.
Homes England has also committed considerable funding to accelerate the Waterbeach New Town development, with the potential to deliver 11,000 homes. This includes over £23m to relocate a railway station to directly unlock 4,500 homes, in partnership with Waterbeach Development Company. These plans are in addition to the existing £61 million loan at the former Waterbeach Barracks and airfield site, led by Urban&Civic, with plans to deliver 6,500 homes on completion.
Eamonn Boylan, Chief Executive of Homes England, said:
Through our Strategic Place Partnership model, we work hand-in-hand with local leaders to help them accomplish their ambitious housing and regeneration aims. This SPP marks the Agency's commitment to working with the Cambridgeshire and Peterborough Combined Authority, to help realise the aspirations set out in the Shared Ambition for Cambridgeshire and Peterborough 2050.
We already have a strong track record of delivering transformative projects across the region and through this new partnership we will build on our existing relationships and achieve even more for the local community.
Dr Nik Johnson, Mayor of Cambridgeshire and Peterborough Combined Authority, said:
The Combined Authority is about building powerful partnerships locally and nationally, with an aligned vision to deliver for the region. We're committing, with Homes England, to work smarter, together, to help accelerate the building of the new, good quality, energy efficient homes we need, in places that have the capacity for growth.
The partnership signed with CPCA means Homes England has now signed seven SPPs with combined authorities across England.
