Bovis sets up £240m social housing joint venture

Bovis Homes has formed a joint venture with Metropolitan Thames Valley Housing (MTVH) to build 783 homes on a £240m development near Cambridge.The development at Cambourne West will be made up of 70% private units, ranging from one- to five-bedroom homes from the company’s new Phoenix range, and 30% affordable housing. The 235 affordable homes will be a mix of affordable rent and shared ownership.As part of its section 106 obligations, the JV will contribute almost £40m towards education, including the expansion of a secondary school and construction of two new primary schools. Bovis is also contributing £9.5m to a ‘City Deal’, including highway improvements.Building on site is expected to begin in February 2020.Also nearby is the Bovis Homes and Taylor Wimpey Cambourne development made up of approximately 4,000 homes, built between 2008 and 2018.