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JV handed £25.5m boost for Watford scheme

Source: https://www.insidermedia.com/news/

A joint venture developer has secured a £25.5m injection for a major new residential scheme in Watford.Watford Riverwell (Family Housing), a partnership between Watford Borough Council and Kier Property, is behind the project known as Avenues.It would provide 85 new homes as part of the Watford Riverwell scheme, the largest regeneration project in Watford transforming more than 60 acres of land to the south of Watford General Hospital and Watford Football Club.The project has secured funding from Paragon Development Finance.Overall, the £450m Watford Riverwell project will take between 15 and 20 years to complete and will result in approximately 1,000 new homes, along with a retirement village, primary school and retail, commercial and industrial space, as well as other amenities.