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1 December 2009
Countryside Maritime, a joint venture between Countryside Properties and the South East England Development Agency (SEEDA), is to receive an allocation of £7 million from The Homes and Communities Agency (HCA), the national housing and regeneration agency for England, through its ‘Kickstart’ programme to accelerate the delivery of 102 mixed-tenure new homes at St Mary’s Island in Chatham Maritime.
The funding will be used to start, and secure the future of, the development of two forthcoming phases totaling 136 homes. Although it will only directly fund the equivalent of 102 homes, Kickstart, together with other development funding, secures the imminent development of the whole of the two forthcoming phases. Construction will commence in December 2009 and the homes will be completed by March 2011.
Chris Crook, Subsidiary Managing Director, Countryside Properties, “We are delighted to have been successful with our Kickstart bid; St Mary’s Island can now progress again after stalling in 2009 due to the economic downturn. This funding will help reinvigorate the project providing many more new and affordable homes. We can now move forward the delivery of the next phases which will be starting this month.”
David Edwards, director for the HCA in the south east said: “The Kickstart programme has been instrumental in keeping housing construction moving during the economic downturn. The programme provides funds for stalled sites to enable affordable and market homes to be built. As part of this process the government shares the risk and the rewards of the development, with taxpayers funds being returned when the market homes are sold. It is a win-win for those seeking affordable homes; for developers; for employment opportunities and for the government. We look forward to seeing St Mary's Island proceed and people move into new homes as soon as possible.”
On the site of the former Royal Naval Dockyard, St Mary’s Island is a 150 acre mixed-tenure community that will eventually comprise around 2,000 new homes, as well as shops, a school and other community facilities, public open spaces and a marina.
St Mary’s Island is part of the wider community of Chatham Maritime, which is a development of national and regional significance, which provides employment, restaurants, hotel, shopping, as well as learning facilities for a number of Universities and extensive leisure amenities.
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Notes:
The HCA is the single, national housing and regeneration agency for England. We bring together the development and regeneration expertise of English Partnerships, investment functions of the Housing Corporation, and the Academy for Sustainable Communities, with major delivery programmes of Communities and Local Government.
Our role is to create opportunity for people to live in high quality, sustainable places. We provide funding for affordable housing, bring land back into productive use and improve quality of life by raising standards for the physical and social environment.
During the next three financial years the HCA controls a budget of £17.3bn.
www.homesandcommunities.co.uk
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Information correct as at 01/12/2009