The former Ministry of Defence estate in Ely is back in use this week after standing derelict for seven years.
The first four houses of 18 in stage one of the refurbishment phase have been released on to the open market after the site was bought by East Cambridgeshire District Council (ECDC) and handed over to East Cambs Trading Company.
The first refurbishment stage – which includes a selection of properties for sale and private rental - will help fund the second stage which is set to include 15 shared ownership and Community Land Trust properties reserved for people who live or work locally.
Councillor Anna Bailey, leader of East Cambridgeshire District Council, said: "The last time this site was fully operational as a community was before September 2012 when US Air Force personnel started to move out.
“It’s therefore really exciting to see the first tenants and homeowners moving into properties on this estate which has been unoccupied for so long.
“The first four properties were easy to refurbish and required modest alterations and renovations to make them suitable for occupation and this has allowed us to move quickly. These open market homes are helping to fund the 15 affordable homes which will be available in this refurbishment phase. We also look forward to providing more affordable homes in the forthcoming planning application.”
The remaining houses will be fully refurbished and come onto the market between now and the end of the year.
The regeneration of the site, which is located next to the Princess of Wales Hospital, is being managed by Palace Green Homes which is 100% owned by the Council for the good of local residents.
It has been made possible thanks to a loan of £24 million provided by the Cambridgeshire and Peterborough Combined Authority with an additional loan of £1.5 million from the district council.
All existing homes on the plot are being renovated with, subject to planning, a further 78 new homes being built to bring the total number of properties to 166.
As part of the refurbishment works, improvements will also be made to the street scene and additional off-road parking will be provided.