Milton Keynes, England—A 200 million GBP, or around $322 million, mixed-use project is set to deliver its first homes. Developer Crest Nicholson made an announcement regarding the company’s partnering with the Homes and Communities Agency, which would allow the homes to reach renters and buyers as soon as possible. The developer is currently working on the mixed-use development in Oakgrove, Milton Keynes, a particularly thriving area of England. The Surrey-based homebuilder has 1,100 residential units planned for the area, based on an outline approved back in October 2011.
The new Oakgrove development perfectly fits current internal British policy, which calls for economic stimulation and an increase in the amount of housing, due to the growing demand. According to a press statement released by Crest Nicholson, detailed planning for the first phase of the development was granted by the local council in March, this year. That phase includes the construction of 231 homes and a neighborhood center featuring upscale retail and dining facilities for all residents. After all permitting came through, a comprehensive Development Agreement was signed between developer Crest Nicholson and the landowner, HCA, that allowed preliminary work to be commenced on the site this past summer.
The Oakgrove community will be comprised of homes featuring floorplans ranging between two and five-bedroom layouts on a patch of land located near the Ouzel river. Apartment units featuring one and two bedrooms will be clustered around the neighborhood center. The development will provide housing for a wide variety of financial possibilities with 30 percent of homes built in the first phase being designated for affordable housing, with both renting and shared ownership being made available to those on a limited income.
Designed in concordance with the Code for Sustainable Homes Level 4, the homes that are part of the development’s residential component match modern expectations in both energy efficiency and comfort. Extensive areas of open space featuring biking and walking paths will contribute to a feeling of comfort and provide a sustainable lifestyle in a calm environment.
It is the opinion of the Homes and Communities Agency that “Oakgrove is an excellent location for housing and the size and scale of development we are delivering supports the [Milton Keynes] Council’s ambitions for more new homes,” as voiced by Charles Amies, Head of Midlands South East at the HCA. The first batch of homes will be available for viewing some time next month, while the neighborhood center will open in spring 2013.