Developer Countryside has started work on the scheme, which will provide 125 homes for open-market sale, 117 two, three and four-bedroom houses for private rental to be owned and managed by Legal & General’s suburban build-to-rent arm, and 105 affordable homes to be owned and managed by Cross Keys Homes.
The development will be bounded by existing woodland and new water features and will also include new schools and community amenities as part of the wider site.
Glyn Mabey, Managing Director, East Midlands, Countryside said: “We are proud to start building these new family homes, which will provide high-quality accommodation. The project will deliver excellence in design, build quality and energy efficiency to meet the most exacting of standards well into the future. All this will be delivered in a new community, Great Haddon, offering a family-friendly setting where residents can thrive.”
Cross Keys Homes’ Chief Executive, Claire Higgins, said: “Building homes in Peterborough is a fundamental part of our strategic plan because we know there is a real need for affordable housing options in many communities across the city.
“Working with respected development partners and with funding secured from Cambridgeshire and Peterborough Combined Authority, we know that we can continue to provide homes that mean people don’t need to choose between quality and affordability. We are delighted that we’ll be able to provide more than 100 families with a place to call home on this site.”
David Reid, Managing Director, Legal & General Suburban Build to Rent, said: “Build to rent as a sector has consistently demonstrated value to investors, delivering robust and defensive income streams, suitable for patient capital investment. This is clearly about more than strong investment prospects for us; it’s about providing high-quality rental housing for families across the UK, as working practices and lifestyle demands continue to evolve. We are delighted to be developing our first scheme with Countryside to meet these aims and look forward to working with Countryside in future.”