Wellingborough development set to deliver more than £1.6 billion in 'social value'
Glenvale Park is also due to create up to 900 jobs and apprenticeships
A new development taking shape in Wellingborough is set to bring more than £1.6 billion in social value to the area.
Research undertaken by Northants LLP, the developers behind Glenvale Park, has revealed that the 3,000-home development is forecast to generate £1.62 billion of social value for the local community.
With the construction process expecting to cost in the region of £800 million, that means the development would deliver £2.03 of social value for every £1 spent on construction.
The development, situated off Niort Way on the northern side of Wellingborough, will create nearly 900 jobs and apprenticeships during the construction process.
These jobs will be in addition to those generated from the business park and the new local centre.
Social value is defined as the economic, social and environmental well-being that is delivered as both direct and indirect outcomes or benefits arising from a new development over a period of time.
The social value calculated for Glenvale Park uses The National Themes, Outcomes and Measures (TOMs) Framework for Social Value as devised by the National Social Value Taskforce in collaboration with the Local Government Association.
The social value generated from the development will include a new community hub, two primary schools, a care home, retail space and a 25,000m² business park, which will house up to 3,000 additional jobs once constructed.
The development will create more than 200 acres of parkland, the same area as 3,200 tennis courts.
There will also be more than 10,000 trees planted and saved across the development.
Mark Best, director of Northants LLP, said: “Glenvale Park has always been about delivering more than new homes.
"It’s about building a new community which will benefit local people for generations to come.
“Today marks the beginning of a journey to ensure that all corners of Wellingborough can take advantage of the social value Glenvale Park offers.
“We look forward to engaging with the Wellingborough and wider Northants community over the coming months, making sure that everyone, from residents to businesses and charities, can benefit from the social value opportunities Glenvale Park has to offer.”
Construction on the Glenvale Park development is well under way, with the first residents expected to move into their new homes in the coming weeks.
The first phase of development will feature homes from Taylor Wimpey, Barratt Homes, Lagan Homes, Keepmoat and Persimmon as well as a care home from LNT.
To find out more about Glenvale Park and to be the first to find out how you can help shape the benefits of the development, click here.
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