UK based housebuilding company Keepmoat has announced that the housing development Mandale Park in Stockton is nearing completion after 11 years.In 2004, the Mandale Estate compromised 578 homes, half of which were unoccupied, as well as three retail units and a community centre. Stockton Council, Barratt Homes, ISOS Housing and Keepmoat Homes entered into an agreement to transform the area building 891 new homes, 641 of which were to buy and 250 available for rent.The project, which entailed an investment of £120m, also includes the £1m Allison Trainer park, named in honour of the councillor who played a pivotal role in bringing the investment to the area.Keepmoat North East regional managing director Richard Bass said that prior to the redevelopment properties on the estate were sold for an average of £13,500 and that now new homes on the estate are reaching prices over £150,000. Keepmoat has built 445 new dwellings as part of the £90m regeneration scheme.Construction of the 333 Barratt Homes created 945 jobs, 95% of which were filled by local people from within a 10-mile radius of Thornaby.Barratt Homes North East managing director Mike Roberts said: "In 2004, the Mandale Estate was in a dire state of repair, with almost half of the 578 units of residential accommodation in the area unoccupied."Since then however, it has been amazing to see the regeneration of not only the estate, but of the area as a whole, not to mention the annual benefit to the local economy of £1m in council tax and over £6m in spend in local shops."Now out of the 333 properties we have built, there are only two left to purchase, and there is now a fantastic community of happy homebuyers on the site. We are really proud of what we have managed to achieve and the positive impact this has had on the area."