It’s no secret that the UK is in the grip of a housing crisis and as one of the fastest growing cities in the country there is a huge demand for housing here in Peterborough. It’s a good sign as it shows people like our city and want to live here.
Luckily we’re already seeing some of the fastest rates of housebuilding in the country, but with our pace of growth accelerating we have to make sure this continues.
So I was pleased this week to hear that Weston Homes has submitted detailed plans for the residential phase of Fletton Quays – 280 high quality city centre apartments – signalling its intention to begin regenerating this important site.
We’re already seeing great success from the creation of the Peterborough Investment Partnership, the council venture with Lucent Strategic Land Fund which is driving the Fletton Quays development, and on Monday cabinet members gave the go-ahead to a similar partnership to build much-needed new homes.
The joint venture with Cross Keys Homes will build all types of housing including affordable, market rent and outright sale homes. It will be funded in part by the money generated through Right to Buy, where residents purchase their council or housing association homes.
Both organisations stand to gain a share of the profits which will either be re-invested to build more homes, or used to support services for residents.
Along with our colleagues at Cross Keys Homes, we are determined to do all we can to provide everyone with the chance to create the home that they desire, whether it’s to rent or buy.
As well as providing a good mix of homes, it’s vital we continue to invest in the city, and encourage others to do the same, so that it’s a place where people want to live and visit.