With 1000 new homes and more than 300 shops, restaurants and cafes, Westfield in Croydon is set to cost a pretty penny, £1.4billion in fact.

Now those homes will have a few extra million pounds worth of funding to fall back on.

The Government announced last week that it will provide £10m in 'housing infrastructure funding' to support the new homes in Croydon town centre.

RELATED: Westfield in Croydon gets approved by council

Croydon South MP Chris Philp said this was a huge vote of confidence in the area.

“I am delighted that the Conservative Government has made this vital investment in Croydon," he said.

"This is fantastic news for Croydon. It will provide world-leading retail facilities in the town centre, and act as a spur to other much-needed regeneration projects there.

"We are hopeful that John Lewis will be confirmed as the anchor store before too long.

"This news will make Croydon town centre one of Europe’s leading growth areas in the coming years.”

RELATED: Westfield in Croydon gets final tick of approval

The huge development had been in the pipeline for what seemed like a lifetime, but earlier this year, it finally got the final tick of approval people had been waiting for.

In November last year Croydon Council unanimously voted in favour of the £1.4billion shopping centre and all that was left was for London Mayor Sadiq Khan's approval, something he gave on January 8.

"This development will play a key role in unlocking the borough’s potential and is set to deliver huge economic benefits to residents and businesses in the borough," Mr Khan said in January.

"I’m confident the benefits of this scheme will be felt for generations to come.”

More than half-a-million square metres of shops and restaurants will be built, alongside space for future student accommodation or a hotel as part of the development, not to mention the 7000 jobs that are expected to be created because of the centre.

Work is due to start by early 2019.