Housebuilder Redrow South Midlands has acquired land for 140 new homes in Barkway.
The 140 homes will include a selection of two, three, four and five-bedroom houses, providing both private and affordable housing for the area.
Redrow, which is currently building the Hedera Gardens development in Royston, secured the 18-acre site after acquiring the land from previous owners through Savills UK Ltd, who acted for the landowner.
The housebuilder has confirmed it will contribute approximately £2.3 million to the region.
The investment in Barkway includes £1.4 million towards education in the area, including schools for those with additional needs, and £507,000 for the community hall.
Redrow will also contribute nearly £140,000 to support more sustainable transport in the community and a further £6,000 towards travel needs.
In addition, the community will benefit from £42,000 for youth services and £14,000 for the town's libraries.
The new development will also feature a shop and newly created open green spaces.
A planning application is currently in progress, and construction at the development is expected to start in spring or summer 2025.
Andrew Newman, sales director at Redrow South Midlands, said: "We're thrilled to announce that we have acquired land in the highly sought-after village of Barkway to bring much-needed new homes to the area.
"At Redrow, we aspire to create sustainable, thriving communities at each of our developments by building high-quality homes and investing in the surrounding community, and this development will be no different.
"Although early days, we expect that the development will be incredibly popular with growing and established families, and we encourage potential buyers to register their interest now to be among the first to hear when plots at this fantastic development become available."
Interested parties are encouraged to register their details now to ensure they are among the first to hear when properties are released for sale.
The proposed new homes will be eco-friendly and designed with low-carbon technology, including cost-effective initiatives to help customers save on their bills.
Air source heat pumps and underground floor heating will be fitted in line with Redrow's goal to achieve net zero across the whole business and supply chain by 2050.
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Savills associate Joe Last, who acted as the landowner for the Barkway plot, said: "This sale represents a unique opportunity to deliver a high-quality housing development in one of the most desirable villages in north Hertfordshire.
"We had strong interest from regional and national housebuilders and are delighted to have agreed a deal with Redrow – signalling the start of what is an important project for the local area.
"The scheme will bring state-of-the-art facilities and significantly contribute to the supply of sustainable new homes, delivering a mix of much needed private and affordable housing."
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