Doncaster is to benefit from part of a £1 billion funding boost that will see more than 3000 new homes built in the borough.
The Home and Communities Agency has loaned £8m out of their Large Sites Infrastructure Fund to the DN7 Initiative, which will see 3,100 properties constructed in the Hatfield, Stainforth, Dunsville and Dunscroft area.
The ambitious project will be delivered over the next 15 years and is predicted to create hundreds of jobs, training opportunities and apprenticeships.
Naz Parkar, executive director at the Homes and Communities Agency, said: “The HCA’s investment will make a real change for local people by ensuring that there will be high quality homes available for years to come.”
The Initiative is being delivered by Waystone Limited, with support from Doncaster Council and the Sheffield City Region Local Enterprise Partnership.
Stuart McLoughlin, managing director of Waystone Limited, said: “I am delighted by the news that the Large Sites Infrastructure Fund (LSIF) had shortlisted for assistance the DN7 project.
“The significant benefit the funding would bring to the project would make it possible to commence work earlier than had been planned and enable large areas of the site to be opened up for residential development.”
The funding will be available between 2015 and 2020 and will be in the form of a long term loan, with interest.
This to ensure a fair rate of return for taxpayers.