Rochester Riverside

Categories

Capital Investment - Kent & Medway, Growing Places Fund, More than £2m

Approval Status

Fully Approved

Delivery Status

GPF Project Delivered

Repayment Completion Date

Spring 2021

The project will deliver key infrastructure investment including the construction of the next phase of the principal access road, public space and site gateways to enable the construction of 1,926 homes, 7,800 sqm of retail and food and drink space (Class A1 &A3) and 34,600 sqm of commercial floor space.

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.

SELEP Capital Investment Programme

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. Repayments are now being made by the Round 1 projects which has allowed funding totalling £20.387m to be allocated to a further 13 projects through GPF Rounds 2 and 3.

Find out more here

Funding value: £4,410,00

Total Project cost: £419,000,000

Return to Capital Investment

Projects