Peterborough was designated as a third-wave New Town in July 1967. In February 1968 the Peterborough Development Corporation was set up. The corporation's task was to provide homes, work and the full range of facilities and services for an additional 70,000 people, drawn mainly from the Greater London area.
Many new housing areas were developed, including Bretton and Ravensthorpe. Based in Peterscourt in the city, it worked in close collaboration with Peterborough City Council, the Huntingdon and Peterborough County Council and, from 1974, Cambridgeshire County Council.
The Development Corporation was officially wound-up in September 1988.