Southern Housing Group has announced it is working towards a start date in October for the Free Wharf development on the western arm of Shoreham Harbour.
The £200million scheme for the former Minelco site in Brighton Road was approved by Adur District Council’s planning committee in January.
Jeremy Barkway, strategic partnership manager at Southern Housing Group, said: “We have been working closely with the council and other stakeholders to ensure that Free Wharf really is a catalyst for the regeneration of this part of Shoreham Harbour. We have always believed that Free Wharf represents an opportunity to deliver significant local benefits to the wider community. As well as 540 new homes, it will create 200 new jobs and a public realm that includes riverside walkways and moorings.”
He added that 30 per cent of the homes had been ringfenced for affordable housing tenures.
A legal agreement with the council has now been signed. During the planning process, developers agreed to pay a total contribution of £2,073,412.
Mr Barkway said: “In addition to funding support for air quality and other environmental improvements, education, and health care services, the Free Wharf regeneration scheme will initiate transport improvements to make travelling in the area less of a challenge.”
The first stage of the construction will install a new river wall to protect the site and part of the area from the risk of flooding.
The development links with Adur District Council’s vision to revamp the Brighton Road area.
In recent years, the council has been driving forward a renaissance of Shoreham Harbour, transforming industrial units into new homes and workspaces with a waterfront promenade.
Mr Barkway said: “We are very aware that West Sussex County Council, as well as Adur District Council, are looking to Southern Housing Group to help champion their vision for a sustainable, vibrant and economically active community that will see this part of the south coast realise its potential.”