Crest will deliver 2,000 dwellings at Bath Western Riverside while master developer Grosvenor tackles commercial elements.
Crest Nicholson has formed a partnership with developer Grosvenor to regenerate 26-hectares of prime brownfield land in Bath.
The £1bn Bath Western Riverside scheme will compromise 2,000 dwellings, 100,000m2 mixed commercial development and supporting community infrastructure.
The 50:50 joint venture anticipates that Crest Nicholson will deliver the housing while Grosvenor will develop the office, retail and hotel elements.
A comprehensive planning application based on the Western Riverside Masterplan will be submitted in Spring 2005 and work is anticipated to start on site in late 2006, finishing in 2018.
John Callcutt, chief executive of Crest Nicholson said: “We are delighted to have exchanged the partnership agreement with Grosvenor and look forward to working with the existing regeneration partners in finalising the vision and delivering the residential component of this prestigious and significant project.”
Grosvenor is the master development partner for the Bath Western Riverside, which consists of a partnership between Bath & North East Somerset Council, Grosvenor and the South West Regional Development Agency.