The M181 Lincolnshire Lakes project will allow more than 6,000 new homes to be built and up to 4,000 jobs to be created by 2028, with up to 1,500 homes and 1,500 jobs predicted to be delivered by 2021.
The scheme has been made possible by Government investment to improve the nearby M181 to serve the development.
Highways England’s Growth and Housing Fund is providing £8.6 million for the project, with North Lincolnshire Council topping up the remaining using developer contributions.
The Growth and Housing Fund is a pot of £100 million which provides financial contributions towards the cost of road improvements that are needed for new developments. This is the second time an award has been made since the fund was set up earlier this year as part of the Government’s 2015 Road Investment Strategy.
Transport Minister John Hayes said:
This exciting project is an important part of our £15bn road investment strategy to deliver better journeys and help people get about and get on.
The new junction on the M181 in North Lincolnshire will help the local economy to grow - delivering 4,000 jobs, 6,000 homes and opportunity for people in the area.
Highways England’s Chief Executive Jim O’Sullivan said:
The £100 million Growth and Housing Fund is a key means by which Highways England is strengthening its contribution to local communities and economies, and I am delighted we have been able to make this significant award.
The Lincolnshire Lakes project will unlock the development of two strategic sites, directly enabling the delivery of thousands of jobs and homes over the next 12 years.
This is a good example of Highways England working with local partners and developers to provide road improvements, value for money and economic growth.
The scheme will involve creating a new roundabout around a mile from where the M181 meets the M180, providing easy access to the new homes and business properties.
The junction is necessary to accommodate the extra journeys the housing development will create.
Without the Government investment, the scheme would not have been viable. A detailed design of the motorway scheme will be completed later this year with construction due to start early next year.
Cllr Liz Redfern, leader, North Lincolnshire Council, said:
This marks yet another milestone in this huge development – the largest housing regeneration scheme in the North of England. Developers Lucent Fund and Maltgrade have now received the go-ahead for the two largest phases of the scheme and we have yet to receive further applications for the remaining homes that will complete the development. Besides new homes, there’ll be new schools, pubs, restaurants, lakes, sport and leisure activities and community centres plus much more.
North Lincolnshire Council is extremely grateful for this huge government investment. It demonstrates, it is listening to the needs of our local area. The Lincolnshire Lakes project is fundamental in helping our area grow and prosper. It will create thousands of jobs and opportunities for people and a top tourist destination in a beautiful lakeside setting. This will, without doubt, be the catalyst to a greater future for North Lincolnshire.
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