Long Harbour has received £70m from Homes England to support the delivery of major residential projects in Northamptonshire.
The loan from the government’s Home Building Fund will be used to create roads and utilities to enable construction of some 8,500 homes.
Long Harbour’s development partners Midtown Capital and Buccleuch Estates will deliver 5,500 homes at the 900-acre Kettering East, along with 3,000 homes in its first phase of development in Wellingborough.
The two schemes have a projected combined GDV of more than £2.5bn, with completion to be phased over the next two decades.
Kit Malthouse, minister of state for housing, said: “We are making the housing market work, and Homes England’s £70.m loan will unlock the development so we can invest in the properties our country needs.”
Sir Edward Lister, chairman of Homes England, said: “Providing infrastructure upfront is key to unlocking significant housing growth and Homes England’s investment in Kettering and Wellingborough will enable two major housing projects to be delivered after many years of delay.”
Aldred Drummond, director of real estate at Long Harbour, said: “The delivery partners have combined our respective expertise in planning, development, construction and finance to optimise the potential of these sites, providing much-needed homes and hobs in they superbly connected location.”