DERRY house builder Braidwater has announced its plans to invest £450 million in 3,000 homes in the north-west.
The bid by the Eglinton-based group centres on 250 acres near the Donegal border at Coshquin.
‘The Cashel’ project would involve the construction of 3,000 social, affordable, and private homes, and create a new urban village at Skeoge roundabout.
Braidwater said its plans includes new community buildings, schools, retail and convenience facilities.
The developer is also eyeing the proposed Derry to Buncrana extension of the North-West Greenway, with plans to incorporate cycle routes into its proposal.
The construction firm has pressed ahead with a number of major building projects since it was backed by equity investor BGF five years ago.
In May, Braidwater announced a £95m bid to build hundreds of homes on a 75-acre site in west Belfast.
The group said the Coshquin plan represents one of the most significant investments in the north-west in recent years, potentially increasing the total number of houses in the wider Derry city area by around eight per cent.
Braidwater plans to invest £100m in the initial phase, building 800 homes and developing infrastructure at the site. It said the project could involve around 250 construction jobs at any one time.
A consultation process is due to begin in the weeks ahead, with detailed plans to be submitted to Derry City and Strabane District Council before the end of 2020.
Vincent Bradley, development director at The Braidwater Group, said the project would be the largest housing development built in the north in a decade.
“This will bring a significant economic impact to the North West,” he said.
“The fact that this will represent an extension to our home city of Derry and that it will address an area of high housing demand makes us even more ambitious to deliver it.
The development will be a new, well connected community, and we will be making a contribution of £1.5m to build in public transport linkages.
“We will also be contributing over £7m into the wider roads network and realigning the Coshquin and Whitehouse Road in a sensitive way.”
Describing an extremely challenging period for the construction sector, Mr Bradley said key projects can help drive momentum.
“At this time, it is crucial to try and keep the economy moving forward. We will reveal further details about our planning consultation process in the weeks to come and we look forward to welcoming feedback from interested parties.”
The announcement has been welcomed by the Mayor of Derry City and Strabane District Council, Cllr Brian Tierney.
“The council recognises the need for quality mixed-use housing with supporting community facilities within the district and the need for significant investment to make the Derry City and Strabane District Council area an attractive place to live, work and study," he said.
