A new £200 million housing development to build 1,100 homes at Oakgrove, Milton Keynes, was announced today.
The development, planned in conjunction with the HCA, comes in response to government pressure to stimulate growth and meet demand in the housing market.
Outline planning for the scheme was granted in October 2011 and detailed planning for the first phase of 231 dwellings and the new district centre was granted by Milton Keynes Council in March 2012. A comprehensive Development Agreement between Crest and the HCA as landowner, was signed in March in 2012 leading to twork starting on site earlier in the summer.
Oakgrove will form a new community of 2, 3, 4 and five bedroom homes in a parkland setting adjoining the river Ouzel and 1 and 2 bedroom apartments clustered around the new neighbourhood centre, which features high end retail and restaurant facilities. The development is designed to appeal to all ages and affordability levels and includes, within Phase 1, 30% affordable housing, providing both rented and shared ownership homes for those otherwise unable to get onto the housing ladder.
Chris Tinker, Crest’s executive board director responsible for the development, said “Crest Nicholson is delighted to be commencing the delivery of this landmark and much anticipated development at such a critical time in the economic cycle.
“We would like to pay testimony to the officers and members of Milton Keynes Council who have worked hard with the Crest and HCA project team to bring this scheme forward. I have no doubt that through the jobs created and quality new homes it will both stimulate growth and meet pent-up housing need.
“We have not yet begun our full marketing campaign, however local interest has been incredible. We are confident of the success of the first phase and look forward to moving on to detailed planning on successive phases of the development”
Charles Amies, Head of Midlands South East at the HCA said: “We know through working closely with Milton Keynes Council that Oakgrove is an excellent location for housing and the size and scale of development we are delivering supports the Council’s ambitions for more new homes.
“We are pleased to be working with Crest Nicholson who is building both attractive and high quality homes. We are making good progress now on the build and are confident that the scheme will be popular in Milton Keynes.”
The first homes will be available for viewing in November and the neighbourhood centre will open in spring 2013.
The development is expected to take eight years to complete and land will be progressively drawn down in phases from the HCA by Crest Nicholson over this period.
The news follows an announcement that Waitrose would be re-locating to Oakgrove from its site at the Food Centre in centre:mk