Lake Terrace phase two gets underway

Following the successful completion of Lake Terrace phase one, we're pleased to be starting work on phase two, delivering a further 35 new affordable homes at the major residential development at Lake Terrace in Melton Mowbray.

Phase two will complete the large-scale transformational development on brownfield land close to the River Eye. 

Working in partnership to meet local housing need

The Lake Terrace development is led by GS Residential and, once complete, will deliver another 70 new homes for the local area. NCHA will take ownership of 35 high‑quality, affordable homes, via a strategic land transfer agreement, helping to meet local affordable housing need and support the long-term growth of the Melton Mowbray community.

Of these homes, 12 will be available through shared ownership, with the remaining properties offered for social rent.

The appointed developer for phase two is MyPad, with designs created by Pelham Architects. Construction is expected to commence shortly, with the first homes anticipated to be handed over at the start of 2027.

Elira Mano, New Business and Development Manager at NCHA, said: “Having seen the positive impact of phase one, we’re excited to move into phase two of the Lake Terrace development and continue our partnership with GS Residential and MyPad. The 35 affordable homes we’re delivering as part of this phase will play an important role in meeting local housing need. This project demonstrates what can be achieved through strong collaboration and a shared commitment to the community.”

This development is supported by funding from Homes England, through NCHA’s Strategic Partnership for 2021–2028, which aims to increase the supply of affordable housing across the East Midlands.

An additional £570,000 overage payment for Melton and Leicester Councils, will ensure wider benefits for the local area.

Find out more about our Growth-and-sustainability-strategy, which outlines our continued commitment to tackling the housing crisis and delivering high-quality, energy efficient homes.