.gif)
The 846 units, 254 of which will be affordable homes, will be powered by an energy efficient and environment-friendly biomass plant burning woodchip sourced primarily from on the Island with the. The first phase of the project can now commence imminently.
The decision releases over £11 million from the Homes and Community Agency (HCA) and generates a financial contribution of nearly £6m from the planning agreement with Barratt. Of this, £1m will be towards new community facilities, as well as significant contributions towards highways, arts projects and local schools.
-- Advertisement --
The development also contributes greatly towards several of the council’s priorities including providing affordable housing to local people, attracting significant inward investment to the Island’s economy and promoting the green agenda.
The scheme also brings £10 million of inward investment from Spectrum Housing Group, a member of Source Development Partnership. The project will also include a new 10 hectare country park, including a ranger station and visitor centre, new recreation and play areas as well as local recycling centres.
Cllr Dawn Cousins, Isle of Wight Council cabinet member responsible for housing, said: "In what are difficult economic conditions I am delighted that work on this long-awaited scheme can now start. This development will bring so many benefits to the Island, its residents and its economy.
"This development serves as evidence that the council is taking a lead in addressing some of the issues of major concern to residents, such as the provision of affordable housing to local people, stimulating the Island's economy and leading by example when it comes to sustainable development."
(CD/GK)
