Media-Sales-Executive

News - Construction News

Motorway investment unlocks thousands of new jobs and homes



A £13.3M motorway investment scheme has unlocked a 6,000 home scheme, with 4,000 jobs to be created by 2028.

A multi-million pound road investment scheme in North Lincolnshire has been given the green light, which will allow more than 6,000 new homes to be built and create up to 4,000 jobs by 2028.

By 2021, a total of 1,500 of the new homes and 1,500 jobs are predicted to be delivered.

The road investment scheme has been partly funded by the government, to improve the nearby M181.

A total of £8.6M has been provided for the project by Highways England’s Growth and Housing Fund.

The Growth and Housing fund was set up earlier this year as part of the Government’s 2015 Road Investment Strategy, and is a pot of £100M, which provides financial contributions towards the cost of road improvements that are needed for new developments.

North Lincolnshire Council are topping up the remaining funding using developer contributions.

As part of the scheme, a new roundabout will be created around a mile from where the M181 meets the M180, providing easy access to the new homes and business properties.

Without government investment, the scheme would not have been viable.

The junction is necessary to accommodate extra traffic that the development will create.

Transport Minister John Hayes said: “This exciting project is an important part of our £15Bn Road Investment Strategy to deliver better journeys and help people get about and get on.

“The new junction on the M181 in North Lincolnshire will help the local economy to grow – delivering 4,000 jobs, 6,000 homes and opportunity for people in the area.

Highways England’s Chief Executive Jim O’Sullivan said: “The Lincolnshire Lakes project will unlock the development of two strategic sites, directly enabling the delivery of thousands of jobs and homes over the next 12 years.

“This is a good example of Highways England working with local partners and developers to provide road improvements, value for money and economic growth.”

Cllr Liz Redfern, Leader, North Lincolnshire Council, said: “This marks yet another milestone in this huge development – the largest housing regeneration scheme in the North of England. Developers Lucent Fund and Maltgrade have now received the go-ahead for the two largest phases of the scheme and we have yet to receive further applications for the remaining homes that will complete the development. Besides new homes, there’ll be new schools, pubs, restaurants, lakes, sport and leisure activities and community centres plus much more.

“North Lincolnshire Council is extremely grateful for this huge government investment. It demonstrates, it is listening to the needs of our local area. The Lincolnshire Lakes project is fundamental in helping our area grow and prosper. It will create thousands of jobs and opportunities for people and a top tourist destination in a beautiful lakeside setting. This will, without doubt, be the catalyst to a greater future for North Lincolnshire.”

A detailed design of the motorway scheme will be completed later this year, with construction due to commence early in 2017.

 

If you would like to read more articles like this then please click here

  •