The Brooklands development is adjacent to junction 14 of the M1 motorway and forms part of a 145 hectare (360 acres) site. To date, Places for People has built 250 homes on the land.
Barratt Homes will start construction of the residential elements in May 2014 on behalf of the JV. As with its other joint ventures, Barratt will provide construction, development, accountancy and sales services to the JV.
Paradigm Housing Group will purchase the completed affordable dwellings, which will consist of both rental and shared ownership tenure.
In addition to new homes, the site has outline planning permission for parks, open spaces, and a local centre, including shops and office space, which Places for People will continue to deliver. Places for People will also remain responsible for Brooklands Square - a town square with shops, cafes and restaurants – as well as the design, co-ordination and implementation of aspects such as the roads, drainage and community facilities including schools.
David Cowans, chief executive of Places for People, said: “At a time when new housing is desperately needed, our partnership with Barratt will enable us to build new homes and community facilities at a much faster pace.
“Brooklands is different to many other housing developments as it offers a genuine community feel and a variety of facilities that allow people to mix and integrate. It has proved hugely successful and we want to build on this success via this new joint venture.”