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£9m investment into new homes in Bath

More than 280 new homes are set to be built after the West of England Combined Authority (WECA) approved £9 million of land investment in the Bath Riverside area.

Funding for the new homes has been made available from the Combined Authority’s land acquisition fund, which aims to speed up housebuilding.

It will enable Bath & North East Somerset Council to buy land at Bath Riverside, supporting low carbon development including a new school and green space.

Tim Bowles, West of England Mayor, said: “This investment will help make sure much-needed homes are built more quickly. We need more homes for our residents to buy and rent – in the right places and at prices people can afford.

“The West of England Combined Authority is proud to support the council by investing in Bath Riverside through the land acquisition fund. I’m confident that the project will deliver a successful place where people will want to live.”

The investment will continue to build on the strong foundations on Phase 1, which has been successfully unlocked with public investment and has seen over 800 new homes built following outline planning consent in 2010.

Councillor Dine Romero, Leader of Bath & North East Somerset Council, said: “I welcome this investment in Bath Riverside which will help us deliver low-carbon development for the community, including important green spaces and a new school. I am also pleased to hear that our carbon neutrality goal is being supported through funding for a heat network study with the aim of cutting carbon emissions and reducing bills for residents.”

Bath Western Riverside is a key part of the council’s five-year housing supply plans, and is the largest allocated brownfield housing site in the city. It is anticipated that the Bath Riverside development could deliver approximately 285 homes (including 205 accelerated) commencing in 2024/25 – at which point the original investment will be returned to WECA enabling further investments of this type across the region.

The West of England Joint Committee also approved £60,000 to Bath & North East Somerset Council, through the Revolving Infrastructure Fund, to support a study into a district heat network to deliver the Council’s low carbon aspirations for the development. WECA’s original investment is also expected to be replenished.

2019-10-15T17:20:42+00:00 October 11th, 2019|