It has been announced that two key sites in North Northamptonshire will benefit from the latest instalment of funding from The Homes and Communities Agency (HCA). The HCA is investing more than £7.4m in projects across the East Midlands, which have been on hold following the Treasury's freeze on spending commitments, which is set to create hundreds of new homes across the region.
The Eastfield Urban Quarter in Wellingborough and a major sustainable urban extension at Stanton Cross, Wellingborough are the two sites in North Northamptonshire that have been identified for investment. The HCA’s latest stream of funding will help to unlock Stanton Cross, which comprises 3,100 new homes, and will provide c£1.385m of funding for the Eastfield Road development, which will be used to construct 80 dwellings.
Commenting on this investment, Simon Evans, chief executive of North Northants Development Company, said:
“This is a significant boost to the region, particularly given the current economic climate and the scarcity of available funding. The HCA’s decision to support projects across North Northamptonshire complements the area’s recent growth and development and this funding will help to drive forward these currently stalled projects.”
Margaret Allen, director for the HCA East Midlands, said:
“By investing in these sites we will help to unlock more affordable homes and create employment and training opportunities for local people. We have worked closely with the local authorities to invest in schemes that they place as major priorities and will help achieve their housing and regeneration aspirations they have for the area.”
The HCA’s investment was made available through the £390m of government funding it secured in July this year.