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| Housing Minister Alok Sharma and Quintain's Head of Communications Harriet Park |
Hard on the heels of Brent Council's decision LINK to spend £17.6m of Community Infrastructure Levy (CIL) on public realm infrastructure in the Quintain development comes news that the UK government is to loan Quintain £76m to provide infrastructure for its Wembley development.
Quintain, owned by Dallas based private equity company Lone Star LINK seems to be doing quite well from both local and national government.
Quintain Chief Executive Angus Dodd, said: “This £65m government loan will be match funded by Quintain to provide a £130m infrastructure investment into Wembley Park to deliver new car and coach parking, an energy centre and the first phase of the new seven-acre public park. Not only will this funding allow these critical elements to be brought forward, it will also support the more rapid delivery of new homes.”
The new homes in question are 7,600 new flats of which 6,800 will be for private rent. It is the UK's biggest development of homes built specifically for private rent. These homes will not be affordable for Wembley residents earning the average local income.