CCR’s Housing Viability Gap Fund helps to fund 16-acre site’s transformation into homes, retail outlets and public spaces, with remediation starting now.
The Housing Viability Gap Fund of Cardiff Capital Region (CCR), the regional body made up of the ten Local Authorities in South East Wales, has granted £3.5m for a major redevelopment project in Maesteg. The site, formerly known as Ewenny Road Industrial Estate, was home to the cosmetic manufacturer Revlon and has remained dormant for ten years. It will now be turned, over several years, into a mixed-use development for up to 200 homes, new shops, an employability hub, public spaces, plus a modern transport interchange.
The Grant Funding support from CCR sits alongside investment from landowner Clowes Developments and Bridgend County Borough Council, with the latter retaining an additional three acres for future employment opportunities plus the planned transport interchange. Once the initial enabling works have been successfully completed, including decommissioning disused utilities and safe treatment of mine workings, a developer will be appointed to carry out landscaping and construction.
CCR’s Housing Viability Gap Fund is a targeted £35m funding programme that has brought forward new homes on key strategic sites across South East Wales by unlocking stalled sites, investing in projects that will deliver housing in areas needed most, kick-starting construction, generating jobs and delivering sustainable developments. The current Fund is now fully committed, with individual developments coming on stream when ready.
