Developer Langtree Group’s £250m housing development at Festival Gardens in Liverpool has been shortlisted for government funding as part of a billion pound infrastructure programme.
Festival Gardens is one of 36 schemes nationwide that will now enter a period of due diligence before qualifying for public finance.
Langtree has planning permission for 1,300 new homes in 26 blocks on the 100-acre site, which is located next to the River Mersey in the southern part of the city. Part of the area from the 1980s Garden Festival adjacent to the site was restored using public money and opened in 2012.
Delivery of the residential element of the project stalled in the recent downturn, and the government has pledged £1bn ‘to unlock stalled housing sites by providing cheap loans for roads, services and remediation’.
A spokesperson for Langtree says it is delighted to have been shortlisted for part of the government’s large sites infrastructure programme, and is now working with the Homes and Communities Agency on a due diligence process.
‘We would expect to find out if we have been successful by the end of the year,’ he adds. ‘In the meantime we will continue to develop and refine our proposals to bring the site forward and deliver this important development for the city.’
Communities Secretary Eric Pickles says the government’s investment programme will help unlock or accelerate more than 200,000 new homes across the country. ‘This is part of our wider package of housing programmes to support home ownership, increase investment in the private rented sector and further increase house building.’