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Homes England agrees £83m in funding to accelerate 3,000-home Nottingham scheme
Homes England has agreed an £83m funding package aimed at accelerating a 3,000-home scheme on the outskirts of Nottingham.
The government’s housing delivery agency said the money will support the building of infrastructure needed to bring the 606-acre Fairham site forward.
It acquired 250 acres of the site in May 2019 and is currently working with developer Clowes Developments to deliver the infrastructure, which includes new roads, cycleways, utility provisions and landscaping.
Clowes Developments has secured a £21m loan from the Home Building Fund, administered by Homes England, with the rest of the funding allocated through the £1.3bn Land Assembly Fund.
Alongside the new homes, the Fairham scheme is set to include a new school, health centre, community centre, sports pitches and parks and woodland.
It is hoped that the development will create large numbers of new jobs, with 100,000 of commercial space and close links to East Midlands Airport, the M1 and the East Coast Mainline.
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Housing minister Christopher Pincher said: “This is fantastic for Nottinghamshire and the East Midlands, not only because we are building 3,000 new homes but also for the boost this will give to jobs and the local economy.
“This is part of our mission to build back better from the pandemic and deliver the homes this country needs.”
Gordon More, interim chief executive of Homes England, said: “This is a big milestone for Fairham and means that work can start in earnest.
“As the country starts to think about the recovery from the COVID-19 pandemic, large projects such as this not only meet a demand for high-quality new homes but also support the housebuilding sector by creating a pipeline of work, providing much-needed stability.
“We’ve been working hard with Clowes Development and Rushcliffe Borough Council to ensure that our plans for Fairham will help meet local need and provide facilities that the whole community can enjoy.”
Robert Hepwood, land and planning director at Clowes Developments, said: “This funding package from the government really helps us to make progress on site across Fairham and start to realise our vision of a green and distinctive new district for Nottingham.
“By working in partnership with public bodies we can now accelerate the delivery of new jobs and new homes for Nottinghamshire.
“We’re sure that people will begin to see further progress on site throughout this year with our first new homes due to start construction in the autumn.”
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