£30m funding to support Basildon development

More than 760 new homes and almost 90,000 sq ft of retail and commercial space are being built in Basildon following a £30m funding boost from Homes England.The loan from the government’s housing delivery agency will help to redevelop the Craylands Estate, renamed as Beechwood Village, and the Laindon Shopping Centre, which will become Laindon Place.More than 550 homes are being built at the Beechwood site, including up to 110 affordable homes, while 210 homes and about 75,000 sq ft of commercial space will be developed at Laindon.The funding will allow Swan Housing Association, which is working in partnership with Basildon Borough Council, to develop both schemes at the same time, enabling the final three phases of regeneration at Beechwood Village and new homes at Laindon shopping centre to be completed more quickly.Homes England has agreed the loan as part of its £290m Estates Regeneration Fund, which offers finance to kick-start and accelerate the regeneration of estates.Almost all the homes will be built off site at Swan’s factory in Basildon, using pre-manufactured modular construction techniques.It is anticipated that work at both sites will be completed by autumn 2024.