Controversial £12.5m homes project at Ferry Road, Felixstowe, set to start
- Credit: Archant
Work is set to start on the controversial construction of 197 new homes on farmland on the edge of Old Felixstowe after a £12.5million deal was concluded to finance the project.
Generator Group has been granted planning permission for the development, of which one-third will be affordable homes, in Ferry Road.
It has now agreed a revolving debt package with investors Wellesley Group to develop the 11-acre site.
Residents in the area, and some community leaders, had been against the project, worried about the impact it would have on adjoining countryside, and particularly the traffic it would generate on narrow country lanes and past a school.
Paul Isaacs, managing director at Generator, said: “This is our first deal with Wellesley and it is great to be working with a lender that is experienced and knowledgeable within the residential property sector. We are looking forward to delivering this new development for Felixstowe and to work with the team on this and future projects.”
You may also want to watch:
The debt package will enable Generator to deliver a mix of one, two, three and four-bedroom houses, and apartments. The company will also build the associated roads, infrastructure, car parking, landscaping and public open spaces.
The site borders an Area of Outstanding Natural Beauty, and the developers say it has been designed to complement the natural surroundings, with a tree-lined boulevard at its entrance, extensive landscaping and a buffer of trees along the site boundary.
- 1 Andy's Angles: Six observations after Ipswich Town's 2-1 win over Fleetwood
- 2 Man in his 50s dies after head-on collision on A143
- 3 'Unique' café with 250 plus board games to play will open soon
- 4 Revealed: The most expensive towns to buy a home in Suffolk
- 5 Ambulance service apologises after woman left lying on Cornhill for 2 hours
- 6 How Suffolk are you? Take our quiz to find out
- 7 Hadleigh home with loo in master bedroom hits the market
- 8 Business units set to be converted into new seafront flats
- 9 'One of the favourites for the division' - Fleetwood boss Grayson on Town
- 10 'Kind and gentle' retired Ipswich Hospital orthopaedic consultant dies
There will be public open space at the centre of the development to create a focal point and will incorporate a children’s play area.
Generator director Edward Orr said: “We are pleased to be moving ahead with the delivery of this key housing site that will deliver a significant number of high quality new homes for the local area. Felixstowe’s housing needs continue to grow, particularly with ongoing expansion of the port.
“Our site occupies a prestigious location within the town on the edge of Old Felixstowe and close to the coast and countryside, so we expect homes here to be in high demand.”
Andrew Turnbull, managing director at Wellesley Group, said the company was delighted to be providing the flexibility in the finance needed for the project.