Barratt Developments has formed a new joint venture (JV) with Swindon Borough Council to build 2,670 homes across a 250-hectare site at Wichelstowe over the next 20 years.
As well as the new homes, other features will include two new primary schools, a secondary school and an extensive area of open space.
The council will contribute the land and infrastructure already in place towards the development, while Barratt will fund 100% of the remaining site-wide primary infrastructure through its main trading company, BDW Trading, which will also include a portion of affordable housing.
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In addition, the house builder will deliver serviced parcels for development in five phases and is also the exclusive provider of the development and management services for the site.
Overall Barratt will invest £183 million for half the value of the build, as well as the remaining primary infrastructure.
David Thomas, Group Chief Executive of Barratt said: "We are delighted to be selected by Swindon Borough Council as the preferred partner to deliver much needed high quality new family housing for Swindon. Our shared vision for Wichelstowe is to design and create neighbourhoods which will be a pleasure to live on and will enhance the local communities for years to come."
Cllr Toby Elliot said: "I am very pleased that the Council is entering into a joint venture with Barratt to deliver the Wichelstowe Development. This will move us a step closer to realising what is one of the Council's key strategic programmes."
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