1st Feb 2012

STOCKPORT SCHEME ON TRACK TO HELP GET BRITAIN BUILDING

A housing and regeneration scheme in Stockport has been identified as one of 18 schemes to potentially receive funding under the Government’s £420 million Get Britain Building Programme.

The 41-home second phase of development at Hopes Carr, part of the Covent Garden Village regeneration programme, has been earmarked as one of the first schemes to move to the next stage of the assessment process to unlock delivery on commissioned schemes of high importance.

The Hopes Carr scheme is the start of Stockport’s new Covent Garden Village, a mixed-tenure residential-led urban village which will deliver 250 new homes, new shops and a park. Developer Seddon and Stockport Council are working in partnership to create the new neighbourhood.

Urban regeneration specialist ID4 Living and Seddon Construction, both members of the Seddon Group, began work last Autumn on a £5.7 million block of 46 new apartments for Stockport Homes – the first element of the new urban village – with investment from the HCA and Stockport Homes.

Subject to due diligence and contracting, HCA investment could help Seddon build the next stage of the development – an additional 41 new homes at Hopes Carr.

Deborah McLaughlin, HCA executive director, North West, says: "This is encouraging news for Covent Garden Village and we are keen to see more homes being delivered and progress being made on this important local project. Our partners have once again demonstrated their appetite to get Britain building by developing much needed new homes. It’s really pleasing to see that Covent
Garden Village is one of the first schemes to be taken forward to the next stage of the Get Britain Building Programme.”
Councillor Kevin Hogg, Executive Member for Regeneration at Stockport Council, comments: "We’ve been working hard to drive this project forward with ID4 Living and the HCA, so I’m delighted with this news. This exciting next phase of the Covent Garden residential scheme plays an important part in our overall regeneration plans for the town centre. Encouraging more households in the town centre will support existing businesses, increase footfall and attract even more investment.”
Seddon Construction managing director Jonathan Seddon says: "This development is set to play a key part in the transformation of the town centre. We are delighted that the HCA has recognised the positive effects the scheme is set to deliver, in terms of both high-quality housing and the economic and social benefits to the wider community.”

The HCA has earmarked 18 schemes for fast-tracked funding, subject to due diligence and contracting, which could see investment of £46 million to unlock up to 1,300 new homes.

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