Peterborough given £550,000 government funding for Middleholme development

The investment comes from the government’s Brown Land Release Fund, which has been created to assist on the creation of thousands of new homes to be built on underused and derelict brownfield sites to regenerate local areas and help people onto the property ladder.

On Tuesday (October 12), almost £58 million of the £75 million has been allocated to 53 councils across the country.

The funding has been designed to boost local areas by transforming unloved and disused sites into vibrant communities for people to live and work, with the demolition of unsightly derelict buildings and disused car parks and garages. It is also hoped it will help to protect countryside and green spaces and support young people and families across the country into home ownership.

The money in Peterborough has been allocated towards the Middleholme area of the city, which sits to the right of the Embankment and the Frank Perkins Parkway.

As part of the £600m Embankment Masterplan, the area has been earmarked for housing. Little detail is known about the plans but the area forms part of the proposed redevelopment of the city along with the Station Quarter, North Westgate, Northminster, Rivergate, University, Embankment and Fletton Quays.

Speaking about the funding, Secretary of State for Levelling Up, Michael Gove MP said: “We are levelling up and backing home ownership in every corner of the country, delivering new high-quality, affordable homes and creating thriving places where people want to live, work and visit.

“Making the most of previously developed land is a government priority and it will help protect our cherished countryside and green spaces.”

Cllr James Jamieson, Local Government Association Chairman, said: “One Public Estate and Brownfield Land Release funding play a crucial role in supporting the recovery from the COVID-19 crisis, and supporting councils to transform their assets, create better services, and release land for much-needed new homes and regeneration across the country.

“This latest news is more proof that this programme works. Councils recognise how valuable this support is, and are being ever more ambitious in their ideas to use this funding to kick-start transformation, regeneration, and new development in their communities.”

To find out more about the funding, visit: www.gov.uk/government/news/thousands-of-new-homes-to-be-built-and-derelict-land-transformed.

RELATED:

More details on Peterborough Embankment masterplan revealed

Private investors to be urged to invest £600 million in transformation of Peterborough

Rallying call to investors to back £600 million transformation of Peterborough