A previously used freight yard will be transformed into a location for 5,000 new residences following support from the government.
The Fourth Quarter site in Newcastle is among four government-held former industrial areas slated for significant redevelopment as part of an initiative aimed at accelerating housing construction.
The previously used freight area is the biggest project in the development and covers 100 acres (40.5 hectares) close to the River Tyne.
The North East Mayor, Kim McGuinness, mentioned that the yard had remained unutilized for two decades and described it as a "missed chance."
"This is precisely the type of location where we ought to construct housing developments," she stated.
Next, we will generate employment opportunities as we develop sites for family residences where people can establish long-term futures.
'Untapped resource'
A development framework for Fourth Yard A study published by Newcastle City Council in 2020 indicated that the area encompasses a significant portion of the quayside region.
It encompasses sites such as Forth Goods Yard, Pottery Lane East, Pottery Lane West, Quayside West, Newcastle Utilita Arena, and Newcastle Heliport.
The properties will be developed by a new Network Rail subsidiary, as announced by the government, with the potential to deliver approximately 40,000 additional residences across Britain within the coming ten years.
The Fourth Quarter project will be one of the initial developments, featuring 1,500 residences at Manchester Mayfield and a combined use site with 425 homes in Cambridge.
The HM Treasury announced the creation of a new task force aimed at making additional government-owned land available for housing development.
Chancellor Rachel Reeves stated that government-controlled sites have remained an underutilized asset for far too long.
"Unlike the unsuccessful methods used previously, we are now maximizing the utility of public lands to construct the residences required by families and our military personnel. This initiative enhances access to homeownership and generates employment opportunities nationwide," she stated.
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