A leading Northern Ireland house builder has announced plans to build over 400 new homes in Londonderry over the next three years.
Braidwater says the projects will support more than 750 direct and indirect jobs during the build phase in an investment totalling over £60m.
Local suppliers will provide the building materials, and it is expected that more than 30 sub-contractors from the surrounding area will be employed during the construction phase.
The new units have a completion date of 2020 and are part of the first phase of £300m worth of long-term projects Braidwater has planned for the north-west.
Joe McGinnis, managing director of Braidwater, said: “For every £1 spent in construction £2.84 will be generated in the local economy.
“These projects and additional long term projects will deliver significant benefits to the local economy including developer led contributions to roads improvements, public transport, play parks, neighbourhood centres, landscape maintenance in conjunction with the council, commercial and retail areas and schools.
“This will give the ability for the district to maintain a competitive and affordable housing market in the long term, providing communities and economic activity that will leave a lasting legacy.”
A total of 219 units at Birch Hill Belt Road and 200 at Skegoe have received planning approval with around 30 under construction for handover commencing in September.
Mr McGinnis added: “We have built and strengthened our relationships with the local council and planners who understand the underlying need for new homes and economic activity in the north west.
“This aligns with new planned inward investment as part of the council’s Strategic Growth Plan 2032.”
Maura Fox, head of Planning with Derry City and Strabane District Council, says her team have been working in close partnership with a number of developers from both the social and private housing sectors, including Braidwater, on a wide range of development projects.
She said: “Collaborative working between the planning team and the developers is essential to successfully delivering sustainable communities throughout the council area.
“Since the transfer of planning powers from central government to the local council two years ago, the council has overseen the approval of approximately 3,000 units, while in the past year alone, we have successfully delivered on 367 social housing units, the highest number in any council in Northern Ireland.”