The Homes and Communities Agency (HCA) has invested a further £330,000 towards the delivery of up to 14 new properties at Phoenix Quay, to be built by the Devon-based housing provider Tor Homes. This brings the current investment in Millbay by the HCA up to more than £8 million.
The funding will see up to nine new properties available to buy under the Government's HomeBuy scheme, with the remainder available for rent. This will add to the total of up to 156 homes to be located in the Millbay development.
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This is the latest step in the regeneration of Millbay, which is currently undergoing a major redevelopment to provide around 1,300 new and affordable homes alongside a range of shops, bars and cafes.
Millbay has also recently benefitted from a £4.5 million funding boost, provided by the HCA to drive forward key parts of the development.
Colin Molton, HCA's Regional Director in the South West, said: "Working together with our partners such as Plymouth City Council, Tor Homes, and English Cities Fund has been instrumental to meeting local housing needs and ambitions. Providing affordable, high quality homes and creating communities where people want to live and work is a key priority for us.
"This investment is one of a number of initiatives to bring about the transformation of Plymouth. I am confident that the excellent partnership in place will achieve this."
(CD/GK)
