Business grant and relocation in Kent news

Friday 13th November 2009

Housebuilder Crest Nicholson has today signed an agreement to press ahead with plans to build the first new homes on Medway’s flagship regeneration site Rochester Riverside.

Crest was selected as preferred developer for the first 600 homes on the site in January 2008 but the scheme stalled because of the impact of the recession on the national housing market.

During the recession, Medway Council has explored ways of unlocking the scheme through its regeneration unit Medway Renaissance and in partnership with the South East England Development Agency (SEEDA).

“The signing of this agreement represents important progress for Rochester Riverside in the face of extremely difficult economic circumstances,” said Leader of Medway Council Cllr Rodney Chambers.

“Across Britain, scores of housing schemes are on hold with little prospect of moving forward. In this economic climate, our agreement with Crest is a substantial achievement.”

SEEDA project director, Jonathan Sadler, said: “Developer interest in the Thames Gateway is getting stronger all the time, and this commitment by Crest emphasises the strength of demand in the regeneration of Rochester Riverside.”

Debbie Aplin, Managing Director of Crest Nicholson Regeneration, said: “We are delighted to be partners with Medway Council and SEEDA on this significant project within the Thames Gateway. The signing of this agreement facilitates the ongoing detailed design work with an anticipated construction start on site in 2010. We look forward to delivering, with our partners, this highly sustainable and vibrant addition to Rochester.”

Rochester Riverside has planning permission for up to 2,000 new homes, a primary school, hotels, offices, shops, cafes, bars, two public parks and the riverside walkway and cycle-path which opened last year – the first public access for 100 years to a mile of waterfront.

Source: Medway Council

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