A DEAL has been signed which will herald the start of a half a billion pound investment to deliver new homes and jobs in Hull.
The deal was completed as work began on the first of 4,000 homes which will transform housing across a major city.
Construction has started on 67 properties in East Hull as part of a major regeneration scheme which will see homes built throughout the city and parts of East Riding.
The homes are being built as part of a half a billion pound development which will stretch over 13 years. The ambitious project is being led by a consortium involving Hull City Council, private housing developers, affordable housing providers and commercial property specialists.
Works has started on the foundations of new homes in Ganstead Grove in the Preston Road area of the city. The homes, a mixture of two and three bedroom houses, will be owned by Hull City Council and available to local people looking for affordable rental properties.
The consortium, is made up of Hull City Council, Keepmoat Homes, Strata Homes, Home Group and commercial property specialists Priority Space.
Councillor John Black, Portfolio Holder for Council Infrastructure, responsible for Housing, said:
Securing partners to work with the council to deliver the most wide-spread housing regeneration programme in the city is a significant step forward for Hull and is great news.
We along with our partners within the consortium are working hard to deliver a range of new high-quality homes to meet the needs of the residents of Hull.
Not only does this programme provide the much needed housing but also offers long term training and job opportunities for our local and skilled workforce, which is crucial for a thriving city like Hull and part of our City Plan ambitions.
Mark Knight, Regional Managing Director for Keepmoat Homes Yorkshire, said:
We are delighted to be part of this major regeneration project. We have been committed to the city of Hull for a number of years and are proud to be able to continue this for many years more.
As well as delivering physical improvements to neighbourhoods and homes, the project will create hundreds of new jobs, apprenticeships and training opportunities for local people.
Andrew Weaver, Chief Executive of Strata, said:
We very much look forward to providing a valued contribution to this exciting City-wide venture creating sustainable, diverse, attractive neighbourhoods and a legacy for Hull that we can all be proud of.
Brian Ham, Home Group executive director of enterprise and development, said:
It’s very satisfying to see the first of 4,000 homes starting to be built.
This project will significantly transform housing in Hull and the surrounding area. The mixture of homes for private sale, shared ownership and affordable rent will ensure that people in all segments of the property market have an opportunity to live in modern, energy efficient homes.
The work the consortium is undertaking isn’t just about providing bricks and mortar. We aim to create thriving neighbourhoods and help to transform communities. The major investment will help to deliver jobs and training.
Adam Richardson, Priority Space director, said:
This is a very exciting partnership that will dramatically alter housing provision in Hull. With new housing there is a need for new improved commercial and retail space and we’re delighted to be using our knowledge and expertise to deliver this.
The second phase of development is due to start in Summer 2016 and includes delivery of 350 new homes of a planned 1,000 in East Hull and 750 homes of a planned 1,600 on a major site in North Hull.