In addition to around £2.3 million council tax revenue, the project will generate a new homes bonus (paid by central Government) spread over six years, of about £14 million for North Tyneside Council to spend on improvements and essential services within the area. The development will also provide construction jobs for local contractors and suppliers. Families moving into the area will increase footfall for local shops and businesses.
The project will generate new, high quality family homes help to retain families within the local area which supports local services. It will provide affordable homes to help young families get on the property ladder, in the area where they grew up. The new homes will attract new families to the area too increasing the spend in the local economy and strengthen the existing community. It will also maintain and create public footpaths.
The homes will be built to high modern standards of energy efficiency with low energy footprints. The creation of a linear park through the site will provide extra open space for local people to enjoy, creating opportunities for walking and cycling in the area. The project will also address drainage issues in the area.