A landmark loan of £6.5m has been exchanged by the Cambridgeshire and Peterborough Combined Authority with the East Cambs Trading Company (ECTC) to support a community-led development that will deliver affordable housing for rent and sale in East Cambridgeshire.
The loan, to be repaid within two years, will be used by ECTC to build 54 houses at the West End Gardens site, Haddenham. Of this total, 19 units will be affordable, to be transferred on completion to Haddenham Community Land Trust (CLT). The CLT will manage the houses, ensuring that they remain affordable and available for local people for the long-term.
“This is a milestone for the Combined Authority as it is the first agreement exchanged for developing and supporting the delivery of affordable and private housing that ‘recycles the funding’, rather than the more traditional grant-form of funding.”
For further information please contact the Combined Authority Communications team on 01480 277180, or email: email@example.com