Key agreement between private and public sector will see developers contribute towards transport costs for new housing in Kent
Developers will have to pay a £5,000 transport tariff on up to 10,000 new homes in a Thames Gatway redevelopment zone in Kent.
The overhaul of the transport infrastructure in Kent Thameside can now go ahead thanks to the deal between the government, local councils and developers.
Communities and Local Government and the Department for Transport are investing £74m while Land Securities are contributing £40m specifically for the Eastern Quarry development, which will see 6,000 new homes to the south east of Dartford.
The agreement for Kent Thameside allows for a further package of 10,000 homes but developers will have to pay a tariff which is likely to be £5,000 per dwelling.
Judith Armitt, the chief executive of Thames Gateway said of the agreement. “This is exactly what Thames Gateway is all about: finding new ways to overcome seemingly immovable obstacles.”
The project will see investment in traffic management, public transport and improved highway junctions totalling £164million.
The A2 and local roads will be widened, while the Fastrack raid transport bus network will be developed to encourage more people to leave their cars at home.
The package is part of a 20-year development plan to regenerate the whole of Kent Thameside and the wider Gateway region.