Developers selected for Rochester Riverside scheme
by Marco Cillario Thu 10 March 2016, 5:26 pm
Countryside and The Hyde Group have been selected to carry out the Rochester Riverside redevelopment project, which will provide 1,300 new homes.
Medway Council announced on 10 March that the developers will regenerate the 30-ha site, transforming the area over the next 12 years; development with an anticipated value of over £400 million.
As well as the new homes, 25% of which are aimed at being affordable, Countryside will provide a school, a nursery, hotels, restaurants, a gym, healthcare facilities, office space and retail units on the site.
Selected after a competitive tendering process, the developer is set to submit its first planning application by the end of 2016. The work could be under way by summer 2017 and be completed around mid-2028.
The plans are being supported by the Homes and Communities Agency, co-owner of the site, which has invested around £60 million so far to prepare it for development.
Rodney Chambers, the council’s portfolio holder for inward investment, strategic regeneration and partnerships, said: “This is a really important step for this regeneration scheme and it means we can now get the ball rolling and work with Countryside to produce what is set to be a really impressive development for Medway.”