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Government grant to kickstart Sherford new town development
The Government is to provide £32m towards the construction of a new town in Devon.
Housing minister Mark Prisk said the funding allocation would kick-start the development of Sherford, near Plymouth, and help create 5,000 local jobs as part of a significant boost for the local economy.
Over the next 15 years, development of Sherford is expected to generate £1bn of construction investment and inject a further £2bn into the local area. The town will hold numerous facilities including four schools, a new town hall, a sports centre and a community park.
The Government funding marks the latest allocation of money earmarked in Chancellor George Osborne's Autumn Statement for the delivery of 50,000 new homes through large, locally supported residential projects.
Plans for the community in the South Hams district were adopted in 2007, but progress has since stalled.
Prisk said: "Sherford is the fourth site to receive support, and brings the total number of homes unlocked through the large sites programme to 41,000. Our intervention will also create thousands of jobs and inject billions of pounds of investment into the local economy.
"We have set aside considerable funding to assist large housing programmes like Sherford, and over the coming months we will continue looking at other schemes that would benefit from our support - that means more investment, more jobs for our young people and more affordable homes for families across the country."
Plymouth City council leader, Tudor Evans, said: "This is tremendous news. This heralds the start of a project that will bring much-needed new homes and new jobs to Plymouth."
Over the next 15 years, development of Sherford is expected to generate £1bn of construction investment and inject a further £2bn into the local area. The town will hold numerous facilities including four schools, a new town hall, a sports centre and a community park.
The Government funding marks the latest allocation of money earmarked in Chancellor George Osborne's Autumn Statement for the delivery of 50,000 new homes through large, locally supported residential projects.
Plans for the community in the South Hams district were adopted in 2007, but progress has since stalled.
Prisk said: "Sherford is the fourth site to receive support, and brings the total number of homes unlocked through the large sites programme to 41,000. Our intervention will also create thousands of jobs and inject billions of pounds of investment into the local economy.
"We have set aside considerable funding to assist large housing programmes like Sherford, and over the coming months we will continue looking at other schemes that would benefit from our support - that means more investment, more jobs for our young people and more affordable homes for families across the country."
Plymouth City council leader, Tudor Evans, said: "This is tremendous news. This heralds the start of a project that will bring much-needed new homes and new jobs to Plymouth."
