"Important investment" into Rugby project

A major housing and commercial development in Rugby has taken a step forward after securing a loan from the Homes and Communities Agency (HCA).

RadioStation Rugby is a joint venture between Urban&Civic and Aviva Investors. The HCA's Large Sites Infrastructure Fund has loaned £35.5m to the project to fund a new link road which will lead to the development of 6,200 homes, commercial space and schools.

Outline planning permission for the regeneration of the site was granted in May 2014 and it will be completed in phases over a 20-year period. The first 250 homes will be built by Davidson's Homes.

Richard Coppell, development director of Urban&Civic, said: "‎We welcome this important investment into the Rugby project.

"The scale and location of this site puts it on the national radar as well as being locally significant. RadioStation Rugby delivers much-needed housing for a growing town as well as being a key driver of local economic growth – and this is why the link road in particular is so important as it facilitates a vital connection to the town centre.

"We hope to have the road complete by the end of 2018 and we look forward to announcing further land parcel agreements with housebuilders as we progress the wider scheme over the coming months."