A new company to deliver the UK’s largest self-build housing project has been set up by Cherwell District Council.
The council will transfer management of the project to Graven Hill Village Holding Company Ownership to avoid selling the site to a private developer.
Cllr Barry Wood, leader of Cherwell District Council, said: ‘Under the Localism Act 2011, local authorities can only carry out commercial trading activity through a company. As such, we had to consider numerous options including selling to a private developer, appointing a partner or forming our own company.
‘After putting together an extensive business case, councillors have agreed the latter is the best option to ensure our vision is achieved.’
The project will create 1,900 self-build homes and support up to 2,000 new jobs. The council will reinvest the profits from developing the site back into the district.