The infrastructure works include earthworks to fill in a lake to prepare land for the development of more than 5,000 new homes, amounting to around a third of the Garden City plan.
The Home Building Fund loan was secured by residential infrastructure specialist Henley Camland, which is managing delivery of enabling works for the development of housing on both the Castle Hill site and the Eastern Quarry at Ebbsfleet.
It will speed up development of new homes by around four years overall and will mean many more homes can be built in the earlier phases of the development.
Henley Camland, which recently purchased the Eastern Quarry site from developer Landsec, has simultaneously agreed land deals for 2,900 homes to be developed.
Over 2,600 of these homes will be delivered by Countryside Properties and Clarion Housing Group in a new joint venture, while Barratt Homes will build 300 homes.
More than 1,000 homes will be built by 2021, with the full scheme due to be completed over the next decade.
The HBF loan will also mean a new secondary school can be delivered much sooner than would have been possible. A ‘fast track’ route through the site connecting Bluewater to Ebbsfleet International Station will also be created.
Ian Piper, Chief Executive of Ebbsfleet Development Corporation who oversee Ebbsfleet Garden City, said: “This from Homes England, when combined with the investments already made by Ebbsfleet Development Corporation in key utilities infrastructure, is key to delivering the new homes that are required to create our vision for the Garden City. It is a good example of public bodies working together to deliver great places”.
Ian Rickwood, CEO of Henley, said: “Following Homes England’s investment and our quick succession of deals with various house builders, £1bn worth of quality homes will be delivered at a time when the UK is in dire need of them.
“We’ve worked hard alongside our partners to unlock these homes, as well as the new senior school and remain committed to bringing forward more homes and infrastructure at Ebbsfleet Garden City.”