Properties within the development will have solar PV panels and electric car charging points, helping tenants to reduce their fuel bills and at the same time reducing the scheme’s carbon footprint.
Throughout the Covid-19 pandemic the WMCA has continued to press ahead with its multi-million-pound investment programme to unlock and transform brownfield sites, provide market confidence and help drive the region’s economic recovery, delivering new jobs and homes in the process.
Southwater Way is also the latest example of the WMCA’s pledge to include a minimum of 20% affordable housing on every site it invests in.
Andy Street, Mayor of the West Midlands and chair of the WMCA, said: “Before coronavirus struck, the West Midlands economy was growing fast, living standards were improving and there was a rapid expansion in house building.
“The pandemic has hit the region hard but throughout the crisis we have continued to use Government funding to not only unlock sites like this one for new homes and jobs but also give local people the skills they need to help build those properties.
“Our investment in Southwater Way is part of our wider plans to get our economy back on track and regain our previous momentum. By investing in the future, we can safeguard existing jobs, create new ones and give people the opportunity of a good quality, energy efficient and affordable home.”
Children from Old Park Primary School, which is close to the new site, are currently helping Nuplace to create a site name for the development which will be announced in the New Year.
Councillor David Wright, Telford & Wrekin Council's cabinet member for economy, housing, transport & infrastructure, said: “We are delighted to be launching this sustainable development which will set a benchmark for future Nuplace schemes as well as other housing schemes within the Borough.
"The development will bring high quality housing choices to people wanting to be close to our excellent town centre amenities such as Southwater and Telford Town Park.
“Nuplace is a huge success story for the Council with many of its sites becoming pre-let before properties are even completed. We are confident that these new sustainable homes will prove to be really attractive to people looking for a high quality home for rent.”
Access to funding from the WMCA’s Brownfield Land and Property Development Fund (BLPDF) was provided by Frontier Development Capital Ltd (FDC), a fund manager working closely with property developers to arrange commercial and residential property investments from the WMCA. The Investment Director on the deal was Gerald Gannaway.
Properties will be ready for tenants to move into in Winter 2021.