The government has announced a consultation to create a development corporation supporting the region
The plans for Greater Cambridge regeneration include unlocking more affordable homes, jobs, and transport links.
The plans for the region fall under plans for the Oxford-Cambridge growth corridor.
Thousands of new homes could be built
Whatever corporation is built will focus on speeding-up major developments, assembling land, and regenerating key sites, as well as boosting industry in construction, bioscience, education, and hospitality.
Government development corporations have a track record of boosting prosperity and construction in an area, with the London Legacy Development Corporation given as a key example in Stratford.
Housing and planning minister, Matthew Pennycook said: “This government is determined to realise the full potential of Greater Cambridge to the benefit of its existing communities and the country as a whole.
“The centrally-led development corporation we are proposing would provide us with the necessary powers, authority and access to finance to unleash ambitious and high-quality sustainable growth in Cambridge and its environs in the years ahead.
“I encourage all those with an interest in the future of Greater Cambridge to respond to our consultation and share their expertise, insights and knowledge.”
Homes England will also prioritise regeneration
In early-January, Homes England announced the appointment of John Reid as the executive director for technical capacity and coordination, heading a new hub that will focus on providing expertise for deployment and development in housing delivery.
Having formerly worked as a senior property and regeneration leader and having assisted in delivering housing initiatives, Reid is well placed to utilise his experience in this new role.
Reid said: “I ‘m delighted to be joining Homes England’s Executive Team at such an exciting moment for the organisation. I look forward to bringing my public-private sector and major programme experience to help shape the new operating model and to drive the partnerships and places that communities across the country want and deserve.”
Amy Rees CB, chief executive of Homes England, said: “I am excited to welcome John to our team as we embark on what will be a sea-change year for the agency, building on the successes of recent years as we actively reshape how we work to meet the evolving priorities of people and communities across the country.
“Together with local leaders, partners and communities, our colleagues are focused on mobilising our new regional operating model to best effect, alongside major national programmes including the National Housing Bank, National Housing Delivery Fund and Social and Affordable Housing Programme. This focus is driven by a shared dedication and passion to help ensure everyone can live in a thriving place that they are proud to call home.”
