Highways England has today (Monday) announced it will hand over £5 million towards the building of an A1 junction as part of the Grantham bypass construction.
Highways England’s Growth and Housing Fund is contributing to the new £23 million junction on the A1 south of the town to enable plans for the 193-hectare Spitalgate Heath Garden Villages urban extension to move forward.
The £100 million Growth and Housing Fund is in addition to the Government’s £15 billion investment in roads between 2015 and 2020. It provides financial contributions towards the cost of road improvements that are needed for new developments which promise swift delivery of homes and jobs.
The new junction, part-funded by developer and local authority funds, is expected to unlock more than 1,000 new full-time jobs on the sites it will directly serve.
A further 4,000 jobs and up to 3,700 homes will also be created in a new urban extension, which will include a new local centre, schools, community facilities, conserved woodland and a network of innovative ‘blue green corridors’ to assist with flood alleviation.
The urban extension programme will be delivered by the local authority with support from the Homes and Communities Agency, Network Rail, Greater Lincolnshire LEP and £28.5 million developer contributions.
The Growth and Housing Fund is a national Highways England initiative to support improvements to the strategic road network that will help create thousands of jobs and homes.
Ian Parsons, who is leading on the initiative at Highways England, said: “Today’s funding is a boost for growth that will help kick-start a major regeneration scheme as well as alleviate congestion, meaning better journeys for motorists.
“New homes and workspaces bring jobs and prosperity to communities. Our job is to ensure the road system supports that prosperity by funding additional road capacity to serve significant new developments.
“We will continue to use our Growth and Housing Fund and work with a range of local stakeholders to unlock further development sites around the country.”
Ursula Lidbetter MBE, chairman of the Greater Lincolnshire Local Enterprise Partnership (LEP), said: “The Greater Lincolnshire LEP is already contributing £28 million of Growth Deal funding to the wider scheme, and confirmation of this £5 million investment by Highways England via the Growth and Housing Fund towards the A1 junction is extremely good news.
“These improvements will enable significant new housing and employment, will address congestion issues and will contribute to economic growth across Greater Lincolnshire and beyond.”