There’s a chance to create thousands of good-quality homes and jobs across Greater Cambridge thanks to fresh plans for a development corporation aimed at boosting the local economy.
The government says this new group could help generate thousands of well-paid roles in construction, bioscience, education, and hospitality sectors, raising living standards for families and individuals alike.
People living in Greater Cambridge along with community leaders and businesses are being asked whether they think a development corporation should be set up. They’re also invited to weigh in on what area it should cover and which planning powers it should hold when it comes to approving new homes, workspaces, and vital infrastructure.
The focus is on speeding up big projects by bringing land together more efficiently, regenerating key spots around the area, and attracting new investment. Today (Wednesday 4 February), the housing minister shared initial plans for this government-led development corporation in Greater Cambridge.
Housing and planning minister Matthew Pennycook said: “This government is determined to realise the full potential of Greater Cambridge to the benefit of its existing communities and the country as a whole.
“The centrally-led development corporation we are proposing would provide us with the necessary powers, authority and access to finance to unleash ambitious and high-quality sustainable growth in Cambridge and its environs in the years ahead.
“I encourage all those with an interest in the future of Greater Cambridge to respond to our consultation and share their expertise, insights and knowledge.”
Development corporations have proven effective before – take Stratford for example where the London Legacy Development Corporation transformed that area while delivering the 2012 Olympic Games on time.
Chief secretary to the treasury James Murray added: “We have huge ambitions for the Oxford-Cambridge corridor. This is an important step that will accelerate development in Cambridge and drive investment and growth for the whole country.
“A new development corporation will help us build more homes, create more quality jobs close to home, and raise living standards for working people across the area.”
This consultation builds on up to £400 million already promised by government towards speeding things up locally – including backing better transport links, affordable housing projects, plus support for University of Cambridge’s Innovation Hub. Some funding even goes towards an innovative Water Efficiency Programme designed to tackle water shortages while longer-term solutions get sorted out.
An extra £15 million was given last year just for creating lab spaces suited for science startups too.
The Cambridge Growth Company led by Peter Freeman is working alongside local groups aiming at breaking down barriers that slow growth; having a future development corporation could boost these efforts by providing clearer leadership over time for this region.
Mr Freeman commented: “We all recognise that Greater Cambridge has an incredible track record for delivering good quality and sustainable growth and has even greater ambition to see its innovation economy power inclusive jobs and prosperity for all. But we also all know that there are significant problems to address which are increasingly holding the area back. We must make sure that we make Cambridge and all the towns and villages around it more liveable than they are today.
“I strongly believe that a development corporation will give Greater Cambridge the tools, certainty and investment ability needed to deliver an infrastructure-first approach to sustainable growth.
“The role of a development corporation is to stay true to a shared vision, through economic cycles, and deliver it. When we look back, we’ll see better transport; no shortage of, and better quality water; there’ll be more open public spaces plus protected nature areas; more jobs, and truly affordable homes.”
Mayor Paul Bristow said:“Greater Cambridge is one of the world’s strongest and fastest-growing economies but that isn’t an accident, and it isn’t guaranteed.
“My message to government has long been that we’re ready to deliver but ministers must match our ambition.
“Our Local Growth Plan is intentionally the most ambitious in the country, and delivering it means tackling infrastructure constraints we’ve put off too long.
“That’s why I welcome £400 million from Government already pledged toward accelerating things here, it’s encouraging Government now consulting about developing such a body here.
“If such a group can speed delivery locally, tackle challenges effectively, making Cambridgeshire & Peterborough healthier, richer, happier – then worth serious thought.
“I’ll join fully during consultation & urge others do same. If created, the Combined Authority will work hand-in-hand with such body supporting rapid progress.”
Daniel Zeichner MP welcomed this consultation opportunity saying:
“I’m glad gov announced this chance giving locals voice on city & nearby future. I’m especially happy since hopes rise among younger folks they might find homes someday. And those lucky enough live here might finally see much-needed improvements within transport systems neglected decades.
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“During last election, I challenged making Cam best small city worldwide. A big goal – some want us Europe’s most livable city. That’d be amazing too. We’ve got real shot creating fairer, sustainable place-let’s grab it.”
The consultation starts today, running eight weeks. Residents, businesses & councils encouraged respond. Visit gov. uk/government/consultations/establishing-a-development-corporation-in-greater-cambridge.
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