Bondholder Derby City Council has been successful in its bid to the government’s Housing Infrastructure Fund (HIF) to support future phases of the Castleward Urban Village.
Homes England, which administers HIF, today announced a £3.15m allocation of funding to create a further 511 new homes in the Castleward area.
Deputy Leader and Cabinet Member for Regeneration and the Economy, Cllr Martin Rawson said: “Further development of city centre living in the Castleward area is an important part of our 15-year City Centre Masterplan to develop a vibrant city. I am delighted that we have been successful in attracting £3.15m to support our City Centre Living initiative. Since we launched this initiative we have seen an upsurge in housing units across the city making the DE1 postcode a much sought after location.”
The first phase was delivered by Compendium Living.
Dave Bullock, Managing Director for Compendium Living, said: “We are delighted to hear that the city council’s bid for Housing Infrastructure Fund support for our continuing work in Castleward has been successful. We very much welcome this as recognition of the strategic importance of the project to Derby and of the complexity of large-scale brownfield urban regeneration. We look forward to continuing to develop the new Castleward over the coming years.”
Castleward is a huge regeneration project which will, when completed, provide 800 much needed new homes and 35,000m sq ft of commercial space.
Phase 1 of Castleward has delivered 164 new homes, 12 commercial units, a public open space and boulevard, in partnership with Compendium Living. The company has applied for planning permission for Phase 2 delivering up to 108 new homes. The funding announced today is to support phases 3 onward.
Castleward is perfectly positioned between Derby’s railway station and the Intu shopping centre, which boasts a selection of excellent shops, bars and restaurants. With major road networks such as the M1, A6, A50, A38 and A52, and within easy reach of Derby city centre, Castleward is ideal for commuters.