BASILDON is set to benefit from a £30m loan which will help pave the way for 760 new homes to be built across the borough.

The Echo has previously reported how loans from the Government agency will be used to redevelop the Craylands Estate, renamed as Beechwood Village, and the Laindon Shopping Centre, which will become Laindon Place.

The cash, released by Homes England, will see 210 homes and 7,000m sq of commercial space built at Laindon Place as well as more than 550 new homes for Beechwood Village.

The Beechwood Village scheme will include up to 110 affordable homes with the majority of the homes across both sites being built offsite - at Swan Housing Association's factory in Basildon, using pre-manufactured modular construction techniques - before being taken to the site.

The cash will allow the association, which is working alongside Basildon Bough Council, to develop both schemes at the same time, which means the projects will be completed more quickly than first thought.

When completed, Laindon Place will include a new high street with shops, a supermarket, and a new health centre.

The new homes to be built at Beechwood Village will be in addition to more than 400 homes, retail units and community centre completed in earlier phases.

The £30m loan is part of Homes England's £290 million Estates Regeneration Fund, which offers finance to kick-start and accelerate the regeneration of estates.

Sir Edward Lister, Chairman of Homes England said: “The Beechwood Village and Laindon Place regeneration projects are key priorities for Basildon and we’ve worked closely with Swan Housing Association to ensure the new homes local people need can become a reality.

“Homes England strongly supports the use of modern methods of construction (MMC) as a means of delivering good quality homes at pace, so it’s great to see these methods being used to build better homes faster in Basildon.”

It is hoped work at both sites will be completed by autumn 2024.

Geoff Pearce, Executive Director – Regeneration and Development of Swan Housing Association, said: “Swan Housing Association and our long-term partner, Basildon Borough Council, are delighted to receive this funding boost from Homes England.

"It will enable us to build much needed high-quality homes, more quickly, at both Beechwood Village and Laindon Place.

"These homes will be built both using our state-of-the-art modular factory in Basildon and by traditional methods of construction.

"This partnership helps Swan towards our ambitious target of building an additional 10,000 homes by 2027 and Basildon towards its strategic growth goals for the borough.”