- A new Development Corporation will give Greater Cambridge the powers and certainty to deliver infrastructure-first growth at scale
- New regeneration body will end the cycle of homes coming first and services catching up years later by developing land faster
- £800 million already committed to accelerate new homes, jobs and infrastructure across Cambridge and Oxford
A new regeneration body will deliver thousands of new homes, jobs, and long overdue transport links in Greater Cambridge in a major move to unlock growth in the region.
Working in partnership with local leaders and communities, the region’s biggest Development Corporation will drive faster, more sustainable growth – ensuring transport and services are built alongside new homes, not as an afterthought. It will also rake in millions more in investment, cementing Greater Cambridge’s status as a world-leading centre for science and innovation.
The Corporation will bring land together for development, invest in key sites and unlock stalled and derelict land – tackling housing affordability, cutting commuter delays, breaking down barriers to employment, and improving connectivity.
Today’s announcement builds on the up to £800 million already committed to kickstarting development around Cambridge and Oxford, which will increase the supply of affordable homes, upgrade transport links, and provide more green spaces for residents.
Housing Secretary Steve Reed, said
“Greater Cambridge is an area with huge potential that the new Development Corporation will help turn into more affordable homes, good jobs for local people and infrastructure that supports its communities.”
Chancellor Rachel Reeves, said
“Greater Cambridge is a powerhouse for regional growth – and we’re unlocking its full potential as part of the Oxford-Cambridge Growth Corridor.
“We have the right economic plan – by working with local leaders to unlock stalled sites and invest in infrastructure, this Development Corporation will deliver homes, jobs and opportunity at scale, driving regional growth and supporting our science and innovation strengths in Britain.”
The Greater Cambridge Development Corporation will be a joint national and local body, with the powers and long-term leadership to turn ambition into delivery.
It will bring sites ready for development together quicker, invest in critical infrastructure and bring forward sites that have sat idle for too long – building well-designed communities where people want to live and work.
As well as new homes, it will create thousands of jobs for local partners and businesses, state of the art innovation spaces, bolstering Cambridge’s position as a global centre for science and enterprise.
Local partners and businesses have backed proposals for the Development Corporation, recognising its role in unlocking growth and new jobs across the city, providing the certainty and momentum needed to bring forward strategic sites and attract private investment.
Progress is already being made to remove barriers to growth in Greater Cambridge, including government action to provide adequate water supply and wastewater capacity. This has enabled over 9,000 homes and more than 500,000 sqm of commercial space to come forward so far.
Cambridge Growth Company Chair, Peter Freeman CBE said
“We welcome the government’s intention to establish a Development Corporation for Greater Cambridge. This provides the long-term certainty, status and coordination needed to deliver infrastructure at the scale Greater Cambridge demands.
“The real work begins now, and we are determined to deliver – making Greater Cambridge not only more economically vibrant, attracting world-class businesses, but more liveable, better connected and a place that genuinely works for all current and future residents.”
Chief Executive at Cambridge Ahead, Dan Thorp said
“In the 65+ years of the Cambridge Phenomenon, which is over half a century of world-leading innovation and exceptional economic performance, this could be one of the biggest moments. A Development Corporation can provide strategic direction, delivery capability, and financing in a way not previously possible and through this the Cambridge economy can deliver more for national and local benefit.
“With over 80% of Cambridge industry leaders telling us that the UK Government’s commitment to the Ox-Cam Growth Corridor has either increased or maintained business confidence, it is evident that clear and consistent national policy is having a growth-positive impact on the ground in our high-potential region.
“It will be vital that the Development Corporation truly works in partnership with local leaders, is set up to deliver good growth with certainty and clarity, and acts in the long-term interest of Cambridge and its region. Cambridge Ahead will continue to work with UK Government to build on today’s announcement and ensure that the momentum Cambridge has built translates into the jobs and homes this region and the country needs.”
Mayor of Cambridgeshire and Peterborough, Paul Bristow said
“Our Local Growth Plan is intentionally the most ambitious in the country, and delivering it means tackling infrastructure constraints we’ve put off for too long.
“A Development Corporation has the potential to help us deliver that plan, working as genuine partnership between local leaders, government and communities, all focused on the same plan.
“As Mayor, I will work closely with a Development Corporation to support delivery at pace and make sure that collaboration translates into real progress on the ground.”
Further information
The Cambridge Growth Company was established by government as a subsidiary of Homes England, working closely with local leaders, communities and industry to develop and deliver an ambitious plan to remove barriers to growth in Greater Cambridge.
Up to £800 million has already committed to kick‑starting development around Cambridge and Oxford to deliver tangible benefits to residents. These include
- Thousands of new, high-quality homes to meet local demand and tackle the housing shortage.
- Creation of good jobs across a range of sectors, supporting economic growth and prosperity.
- Improved transport links and infrastructure, making it easier for people to access work, education, and amenities.
- Regeneration of key sites, turning long-stalled areas into thriving, sustainable communities.
- Opportunities for business expansion and innovation, cementing Cambridge’s status as an engine for growth.
