Places for People joins Barratt for 2,000 homes in Milton Keynes
Published by Anonymous for 24dash.com in Housing
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Places for People has joined Barratt Homes Northampton in a 50/50 joint venture to deliver over 2,000 homes in Milton Keynes at the Brooklands development adjacent to junction 14 of the M1 motorway.
Brooklands is a flagship development for Places for People and forms part of a 145-hectare (360-acre) site. Places for People has already built 250 homes on the land and provided infrastructure, open space, and community facilities, as well as the land for a new primary school.
Places for People chief executive David Cowans said: "At a time when new housing is desperately needed, our partnership with Barratt will enable us to build new homes and community facilities at a much faster pace.
"Brooklands is different to many other housing developments as it offers a genuine community feel and a variety of facilities that allow people to mix and integrate. It has proved hugely successful and we want to build on this success via this new joint venture. Working together, we will be able to develop the site more quickly than would otherwise have been possible."
Barratt Homes will start construction of the residential elements next month on behalf of the joint venture. Under the arrangement, Barratt will provide construction, development, accountancy and sales services, and Paradigm Housing Group will purchase the completed affordable dwellings which will consist of both rental and shared ownership tenure.
In addition to new homes, the site has outline planning permission for parks, open spaces, and a local centre, including shops and office space, which Places for People will continue to deliver.
Places for People says it will also remain responsible for Brooklands Square (a town square with shops, cafes and restaurants), the design, co-ordination and implementation of the roads, drainage, off-site highways improvements, green spaces and community facilities such as a primary and secondary school, which will be built within the next two years.
Places for People describes itself as "one of the largest property management, development and regeneration companies in the UK". It owns and manages 143,000 homes and has assets in excess of £3 billion. Barratt Developments PLC is a FTSE 100 Company, which sold 13,663 homes in the year to June 2013, making it the biggest housebuilder by volume in Britain.