Work is scheduled to begin in the spring at the former RAF Locking site, near Weston-super-Mare. The first phase is for construction of 100 homes and 6,000 sq ft of office space. It will also provide serviced plots for the future development of a 14,000 sq ft office building and a 30,000 sq ft Innovation Centre.
RAF Locking, renamed Locking Parklands, was acquired by the South West Regional Development Agency in 2002 following its closure as an RAF training base in 1998. The HCA took over ownership of the site earlier this year. St. Modwen was chosen as preferred developer for the site in October 2008.
When completely developed, which is expected to take at least 20 years, the 200 acre site will have up to 1,500 homes and 450,000 sq ft of business space, as well as community and retail facilities.
The HCA has invested £2.5m in the first phase of development, taking the total level of its investment in Locking Parklands to more than £12.2m since 2002.
HCA head of area David Warburton said: ''Locking Parklands is a key priority for us and our local partners, because of the wide range of benefits it delivers, including new homes, job opportunities and space for businesses. It is fantastic news, for the local area and wider economy too, that work will now start to deliver these benefits.”