The £229m partnership for the Harry Stoke development will see Crest deliver both the homes and associated infrastructure over the next seven years, with infrastructure works due to start this month.
Sovereign Housing Group will pre-purchase 376 of the associated affordable and intermediate homes from the joint venture.
Both operations have a track record as long-standing partners, with successful previous developments including Centenary Quay in Southampton, Tadpole Garden Village in Swindon and Harbourside in Bristol.
Chris Tinker, Interim chief executive at Crest Nicholson, said: “The combination of Crest’s major project and housing delivery skills and Sovereign’s commitment to acquiring and managing the new affordable and intermediate homes will enable us to accelerate the delivery of quality new homes at Harry Stoke and to meet the housing need in this fast-growing part of Bristol.”
Andrew Ball, Development Director at Crest Nicholson South West, adds: “The South West has been a major part of Crest’s delivery pipeline in recent years and this new venture at Harry Stoke will build on our track record of delivering sustainable new communities and expand our presence in Gloucestershire.”
In addition to the affordable housing, the partners are providing £9.5m worth of community contributions as well as a local retail centre, community hub, primary school site and nursery.
Much needed infrastructure developments are also being made, with the construction of a new link road to provide access for residents and the surrounding community.
