Oxford City Council's west area planning committee will decide the hybrid application for the scheme which has been in the pipeline for more than four years and was finally unveiled last Summer.
An increased affordable housing proportion (35 per cent) has been set after talks between the council and developer Thomas White Oxford (TWO), the development company of St John’s College. The initially applied for proportion was 25 per cent.
Along with 87,000 sq m of workspace and 480 homes, the development will have a hotel of up to 180 rooms and 23 acres of open spaces including three new parks. It is expected to create 4,500 jobs and is forecast to add £150m a year in gross value to the economy.
A spokeswoman for Oxford North said: “From the outset, Oxford North has been about investing in Oxford and making a positive impact on people’s lives and future generations.
“Over the last several years, TWO and Oxford City Council have worked on a collaborative basis with a considerable amount of work carried out to realise the city council’s vision.
“Our offer (for the increased affordable homes proportion) is a result of the city council persuading us to continue to take a long term view alongside our £100m investment into local infrastructure and sustainability initiatives.
“It underlines our commitment to fully invest in the project, to assist the city council in securing the £15.9 million Government infrastructure funding that is needed for the housing, delivering a business community with new workspace for start-ups and businesses, and the much-needed 480 new homes of which 168 will be affordable homes, all of which will transform people’s lives and the wider community.
“This game-changing project will be a truly transformational and positive addition to one of the world’s greatest cities.”
The offer is subject to Oxford City Council’s £10m Homes England Housing Infrastructure (Marginal Viability) Funding application.
Source: Thames Valley Property No 179 (tvproperty.co.uk)
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