A funding bid was compiled by Cherwell District Council's housing association partner A2Dominion with support from the council.
Cherwell District Council portfolio holder for planning and housing, Councillor Michael Gibbard welcomed the news: "We are absolutely committed to making sure people have a full range of housing options. Some will want to buy outright, some will want to part-buy and part-rent and some will want an affordable rental option. This approach recognises their different financial positions and varied housing needs."
-- Advertisement --
An application for the first phase of NW Bicester, currently being assessed by Cherwell's planning department, includes proposals for 393 homes, of which 120 will be classed as affordable. If planning permission is granted the funding will help towards the cost of providing affordable homes for both rental and shared-ownership.
David Warburton, head of area at the HCA, said: "We are fully supportive of the aspirations of the local authority to create an exceptional and sustainable new community at North West Bicester. We are working alongside our partners to enable this priority project to get underway, and to develop these quality, affordable and sustainable homes."
The funding will help towards the cost of providing affordable homes for both rental and shared-ownership.
(CD/GK)
