Colchester Northern Gateway
- Capital Investment - Growing Places Fund
Construction in progress
Expected Completion Date
The proposed scheme forms part of the overall Colchester Northern Gateway (CNG) Vision which is to create a high quality, highly sustainable housing, employment, and leisure destination at one of the primary gateways to the town centre and this has been reflected by the areas designation in the draft Local Plan as a primary economic and growth area.
Capital Programme delivery update
Take a look at our update on the delivery of the Local Growth Fund (LGF) and Growing Places Fund (GPF) capital programmes.
Growing Places Fund
The Growing Places Fund (GPF) was established by the Ministry for Housing, Communities and Local Government (formerly the Department for Communities and Local Government) and the Department for Transport (DfT) in 2011. The aim of this funding is to unlock economic growth, create jobs and ‘kick-start’ house building at stalled development sites.
The GPF was made available to SELEP for investment as a recyclable loan scheme. Loan repayment schedules for each project are agreed within the credit agreement which is put in place at the start of the project. Repayments against these projects are returned to the central pot for reallocation to new projects.
Through the GPF Round 1 awards, a total of £47.459m GPF was awarded to 13 capital infrastructure projects across the South East LEP area. Initial repayments are now being made by some of the Round 1 projects which has allowed funding totalling £9.317m to be awarded to a further 8 projects through GPF Round 2.