The investment secured by Wokingham Borough Council and the University of Reading supports proposals to build 2,400 new homes as well as the University’s proposed 18,580sqm Science & Innovation Park south of the M4.
The council considers the planned road to be crucial for development around Shinfield, Spencers Wood and Three Mile Cross – and area known as the South of M4 Strategic Development Location (SDL). Funding is in the form of a loan from the Homes & Communities Agency (HCA) to the University of Reading.
Housebuilder Bovis Homes is already on site building a 270-home development in the SDL in an area called Mitford Fields. Group development director Michael Black said: “Mitford Fields has been taking shape over the last year and we have worked closely with Wokingham Borough Council and other organisations to ensure that suitable infrastructure is in place for a new development of this size. The relief road will be an important part of this vision for the area and it not only represents good news for existing residents and potential homebuyers but should also create jobs and provide a boost to the local economy.”
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