Kier has been appointed by MMC2 Land & Regeneration to construct a range of 53 new homes available to purchase on the open market and 80 affordable homes.
The affordable homes will be owned and managed by the Bromford Group, which is investing approximately half the £10 million cost of building them. The remaining £5 million is being invested by the Homes and Communities Agency (HCA).
The 49-acre Lydney development has planning permission for 600 new homes and 10 acres of new employment space, as well as significant new infrastructure and sustainable green open space. In addition to the new homes, this first phase of development will deliver around 150 jobs, a 40m new roundabout and 10m new spine road into the site, and sustainable drainage solutions.
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Kier Partnership Homes' Managing Director, Chris King, commented: "As affordable housing specialists we are pleased to be working with MMC2 Land & Regeneration and Bromford Group to bring about transformational change on this first phase at Lydney. The development adds to our growing portfolio of projects being delivered in partnership with the HCA with whom we have National Developer Partner status."
Mark Russell, Managing Director of MMC2 Land & Regeneration, added: "I'm delighted to confirm MMC2 Land & Regeneration’s partnership with Kier and Bromford. This shows that we mean business and are forging ahead with this vital scheme for Lydney. Building these new homes in such a tough economic climate is a clear display of the team’s commitment to meaningful regeneration and the Lydney community. Working alongside the HCA, we are now on site and working hard to build these much-needed homes."
(CD/GK)
