The funding will be used for a range of infrastructure works, including earthworks to fill in a lake to prepare the land for the development of more than 5,000 new homes.
The infrastructure works will unlock 657 acres of land that will be used to deliver up to 5,290 new homes – accounting for around a third of the total Ebbsfleet Garden City housing development – and around 180,000 sq ft of commercial development.
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The £74m funding will be provided through the Home Building Fund (HBF), which helps to unlock or accelerate the delivery of residential and mixed-use housing schemes through both development loans and loan funding for the infrastructure work needed to prepare the land for development.
“At Homes England, we’re using our land, finance and expertise to speed up the delivery of new homes,” said Nick Walkley, chief executive at Homes England.
“The vital infrastructure works that we’re funding in Ebbsfleet will bring forward the development of many new homes by around four years overall and, importantly, will mean many more homes can be built in the earlier phases of the development as a result of our support with the significant infrastructure costs.”