Stanhope’s and Schroders’ long-delayed Ruskin Square, East Croydon redevelopment is one of five South East projects set to benefit from new funding.
Local enterprise body Coast to Capital has designated £4m to the 9-acre mixed-use scheme from the Growing Places Investment fund.
The funding is expected to kick-start the development, which includes 1.5m sq ft of offices and 550 new homes. The revised plans for the scheme were approved in July last year.
Ian Mason, Schroders’ head of UK property fund management, and Stanhope chief executive David Camp, said: “This welcome injection of funding will unlock a first phase of housing at Ruskin Square and a new direct route, to be used by 20,000 people, through the site connecting the station with the town centre by 2013.”
Other schemes set to benefit from the latest £14.4m funding pool include the Airfield Park development in Bognor Regis, which will be see £6m handed to § district council to unlock 100,000 sq ft for warehouses.
joanna.bourke@estatesgazette.com
