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Major housing project a step nearer

15th September 2008 Print
A major new exemplar housing development at Pan on the Isle of White, providing more than 1,000 new energy efficient homes - at least 240 set aside as affordable housing for Islanders - has taken a major step forward. Members of the IW Council Cabinet have (September 9) approved a deal with Miller Homes to formally allow the Pan Regeneration Project at Newport to move forward.

Despite the credit crunch and its detrimental effect on the construction industry, the council will stand to receive a substantial initial capital receipt of over £9 million from the sale of its land at Pan. The scheme will also allow key regeneration, environmental and community projects that have been drawn up as part of the project in partnership with the Pan Neighbourhood Partnership to progress.

The pioneering scheme could also include a Biomass plant that will deliver heating and hot water to the entire development, reducing costs to homeowners at a time when fuel prices are escalating.

The deal also allows the project to be completed to the original high specification and to Code Level 4+ for the Code for Sustainable Homes.

The agreement has already been scrutinised by renowned property experts Knight Frank who concluded the terms offered by Miller Homes were the best that could be achieved in the current difficult market conditions.

Cllr Dawn Cousins, IW Council cabinet member for health, housing and community wellbeing, said: "Everyone is aware of the current state of the housing market but despite these difficulties, the council and our partner Spectrum Housing Group has worked tirelessly with Miller Homes to obtain the best all round result for not only this council but more importantly for the people of Pan, Newport and indeed the Island.

"The benefits of the project include much needed mixed tenure housing, comprising a minimum of 240 affordable homes and partners are also working closely together with the Housing Corporation and Miller Homes to identify further additional housing that can be brought forward to increase the range of housing options open to residents still further.

"These homes are designed for Island people and we have ensured through this process that Island residents will have the first opportunities when the properties come onto the market."

Cllr George Brown, IW Council cabinet member for economy, planning and property, said: "It is a great credit to all those involved in this scheme that this agreement has been drafted.

"At such a difficult time for the construction industry to have an agreement where all the original scheme objectives can be met is tremendous testament to the hard work of all those who are clearly so committed to delivering this very important project."
The phasing of the scheme is currently being discussed but it is hoped the first homes may be available in 2010.