Homes England’s company, the National Housing Bank, has taken on the strategic site to deliver homes, jobs, and develop a new community
Previously owned by the Marshall Group, the Cambridge East land acquisition covers 700 acres and Cambridge City Airport.
The Hill Group was also involved in the purchase and is set to work with the Cambridge Growth Company, another subsidiary company of Homes England, to deliver the development.
Hill will be the delivery partner
The development is envisioned to be a new urban quarter for Cambridge that brings a new community.
This will include over 10,000 new homes and support 9,000 jobs over 3m2 ft. of commercial space. A new skills hub is also being considered for regional construction skills and to support local infrastructure, community facilities, and healthcare provisions.
Plans for the development intend to work in harmony with the proposed Cambridge East station, improving links between Cambridge and London, Bedford, and Oxford, supporting ambitions for the Oxford-Cambridge Growth Corridor.
Housing secretary Steve Reed said: “Cambridge East will become exactly the type of new community this country is crying out for – thousands of new homes to help people get a foot on the housing ladder, backed up with good jobs, modern transport links and beautiful green spaces.
“It is a great example of how this government is committed to ending the cycle of homes coming first and services catching up years later.”
Amy Rees CB, chief executive of Homes England, said: “This is a fantastic example of how public and private sector collaboration can bring forward much-needed new homes, helping to create a new sustainable community that delivers real opportunities and long-term benefits for local people.
“A core part of our role is unlocking the potential of places, supporting them to become thriving communities and accelerating locally led plans for housing and regeneration. This ambition has underpinned the collaboration between Hill and Homes England, and I am delighted by news of this acquisition.”
Cambridge is a priority target for regeneration
Earlier this month, the Cambridge Development Corporation was launched to drive growth and work with local leaders and communities, following a consultation in April.
The corporation has also stated it intends to work closely with transport links and services to ensure they work well with housing and redevelopment, as well as making investments into critical infrastructure and creating more jobs and spaces within the Oxford-Cambridge Growth Corridor.
Housing secretary Steve Reed said: “Greater Cambridge is an area with huge potential that the new Development Corporation will help turn into more affordable homes, good jobs for local people and infrastructure that supports its communities.”
Chancellor Rachel Reeves added: “Greater Cambridge is a powerhouse for regional growth – and we’re unlocking its full potential as part of the Oxford-Cambridge Growth Corridor.
“We have the right economic plan – by working with local leaders to unlock stalled sites and invest in infrastructure, this Development Corporation will deliver homes, jobs and opportunity at scale, driving regional growth and supporting our science and innovation strengths in Britain.”
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