1. SINGLE LOCAL GROWTH FUND (SLGF) 2015/16 PROJECT NAME:BOSTON QUADRANT PROJECT LOCATIONBoston LEAD APPLICANTChestnut Homes Limited DELIVERY PARTNERSGreater Lincolnshire LEP, Homes & Communities Agency TOTAL PROJECT COST£23.8million SLGF ALLOCATION£4.75million Project Summary The Boston Quadrant scheme will secure the development of a 68 acre site, on land either side of the A16 in Boston, south of Tytton Lane East. The completed scheme will include a number of uses, including: over 500 new homes, with a broad mix of dwellings including 1 and 2 bed apartments, and 2, 3 and 4 bed houses. It is anticipated that up to 100 of the new units will provide affordable housing; 2.16 hectares of land for commercial operators (2,200sq m gross), including a pub/restaurant site, and a variety of sites for drive thru/restaurant uses. Additional provision has also been made for a 60 bedroom (approximate) hotel site; 2.9 hectare site for foodstore operators (7,120sq m gross), including a new petrol filing station a new 5000 capacity stadium for Boston United Football Club, together with accommodation for its extensive community programme including a new sports hall and 3G pitch. It is estimated that the employment uses identified will lead to the creation of 450 new full time jobs within the local economy and lever in an additional £16million of private sector investment. The development site will bring new people to the local area to sustain existing services and business in the area and generate the need/potential for other services to be located in the area, such as health care and other community facilities. The enhanced range of facilities will also continue to enhance the popularity of the local area as a place to live, by increasing the supply of good housing in the town as well as the quality and mix of accommodation in terms of housing size, type and tenure responding to local needs. The project forms the initial phase of a wider scheme to develop further land in the South West part of Boston and deliver future phases of a proposed distributor road, as well as a second phase of mixed use development incorporating further housing, commercial development, a marina and community facilities. Ursula Lidbetter, Chair of the Greater Lincolnshire LEP said; “We are delighted that the Single Local Growth Fund will enable the first phase of the Quadrant scheme in Boston to be delivered. We have set out ambitious targets to grow the economy across Greater Lincolnshire. It is encouraging that our vision for the local area has been immediately recognised and rewarded by Central Government and is also matched by the commitment and confidence of private sector investors in bringing new development and employment opportunities forward”. David Newton, Managing Director of Chestnut Homes said; ““We are absolutely delighted that the Quadrant has been chosen for funding under this latest government initiative. This project is key for the delivery of new homes in Boston, but the Quadrant delivers so much more in terms of retail/leisure offer; a new section of distributor road; a new Community Stadium, and of course much needed jobs. If planning permission is granted, this funding will allow the project to come on stream in 2015. Our bid faced stiff opposition from other projects, so we are delighted that the government, and the GLEP recognised how important the delivery of The Quadrant is to Boston.” Contacts for further information: Neil Kempster, Land & Development Director, Chestnut Homes Email: neil.kempster@chestnuthomes.co.uk Tel: 07740 410229neil.kempster@chestnuthomes.co.uk Greater Lincolnshire LEP Email: GLLEPsecretariat@lincolnshire.gov.uk Tel: 01522 550540GLLEPsecretariat@lincolnshire.gov.uk