A major development in Peterborough has taken a step forward today after the Government agreed £4.5 million of funding.
The funding will be used to create the Yaxley Loop Road for the Great Haddon development in the south of the city,
The development is planned to bring 5,300 new homes to the city.
There were delays in agreeing the Great Haddon development last year while developers finalised the £75 million contributions to the project’s infrastructure - including the loop road.
The loop road was classed as a Marginal Viability Fund project, which is available to all single and lower tier local authorities in England to provide a piece of infrastructure funding to get additional sites allocated or existing sites unblocked quickly.
At a July planning meeting representatives from the developers - O & H Properties, Marlborough Oasis and Barratt Homes - said an agreement in principle had been reached.
This would see O&H build a loop road through the development from Yaxley either when Marlborough had built 500 homes or by the second quarter of 2022 - whichever was later.
The first of the 5,350 houses at Great Haddon were due to have been built in 2011. The project is also expected to deliver 9,000 jobs, four schools, three shopping centres and sports facilities near the A1M and A15.
The Government funding has come from the Housing Infrastructure Fund, with £98 million being pledged across the East of England.