Latest News | 24 March 2015
Faster Housing Developments for Derby
Bondholder Derby City Council and private-sector companies will now be able to build new housing developments quicker than before after the city was designated as a Housing Zone.
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“This will allow us to speed up developments like Castleward and the former DRI site to provide thousands of homes far quicker than before.”
As part of George Osbourne's Budget announcement on Wednesday, 20 areas have now been given the status and are eligible to bid for cash from a £200 million pot to fund developments – the status also streamlines planning processes.
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“For [Castleward] to be able to finance the next part of the scheme they have to wait for a certain number of properties to be sold. With our new status we would be able to bid for the money and they would be able to build much quicker without having to wait to raise the capital.”
