News release from 4 July 2018, 8:09am
CAMBRIDGE City Council has bought land off Cromwell Road in Romsey on which it plans to build more than 200 new homes, including at least 90 council homes.
The purchase of the 3.3 hectare former Ridgeons site will enable the council to take a big step towards delivering its programme to build 500 new council homes in five years, using the £70m funding secured in the Cambridgeshire and Peterborough devolution deal, in addition to its own resources.
The site, which is currently used as a builder’s merchant and is owned by a family trust, already has outline planning permission.
The development will include at least 40% of the new homes as social rented council homes, owned and managed by the council, and let to tenants on the housing needs register at rents no higher than the Local Housing Allowance.
The homes will be built in line with the Cambridge Sustainable Housing Design Guide and are likely to be appealing because of their good location, nearby facilities and the fact the area is well-served by public transport.
Cllr Lewis Herbert, Leader of the Council, said: “Building more council housing for the many Cambridge people in housing need remains one of our top citywide priorities.
“The purchase of this site provides us with the opportunity to build a large number of much-needed, high quality new council homes, that will give Cambridge families and individuals the homes and stability they deserve. The purchase also enables the council to invest in housing development on a key city site.”
Cllr Kevin Price, Deputy Leader of the Council and the Executive Councillor for Housing, said: “We are already developing our own land, including large sites like Mill Road depot and other smaller housing land sites, but as delivering 500 new homes on our own land is a challenge, alternative options such as the Cromwell Road site have been and will continue to be explored.”
The council now owns the freehold of the site. As well as providing new council housing, this long term asset will earn a return for local residents and help protect local services ahead of the ending of all government core grant to the council in 2019.
The new homes will be developed by Cambridge Investment Partnership, which is an equal, 50:50 Limited Liability Partnership (LLP) between Cambridge City Council and Hill Investment Partnerships, set up to optimise the use of the council’s property through investment in residential, commercial, and other uses to achieve social and financial returns.