18 schemes to get first slice of 'Get Britain Building' cash

Published by Julien Tremblin for 24dash.com in Housing and also in Central Government, Local Government

The Homes and Communities Agency has identified 18 “priority” sites which are set to receive the first slice of the Get Britain Building Programme cash.

Subject to due diligence and contracting, up to £46m could be allocated to the 18 commissioned schemes to deliver up to 1,300 new homes, including on public sector sites.

The sites are of “high importance” according to the HCA, which says they can create “wider benefits” for the local community.

Get Britain Building is part of the Government’s housing strategy which was unveiled last November. It is intended to address difficulties in accessing development finance faced by some house builders and to help bring forward sites with planning permission, but where viability is marginal.

It will operate by making loans available to projects on commercial rates, or taking equity stakes to share risk.

The HCA has hailed a strong response with a total of 170 expressions of interest submissions received under the main bidding process.

The expressions of interest will now undergo an initial assessment by the HCA – looking at value for money, deliverability and fit with local priorities – with a shortlist of schemes to be established by mid-March.

Pat Ritchie, chief executive of the HCA said: “Our partners have once again demonstrated their appetite to get Britain building by developing much needed new homes, in turn generating additional benefits through economic growth and activity. 

“We have had a strong response to our Programme and will now work to establish a shortlist of schemes which fit strongly with locally identified priorities and represent good value for money for the taxpayers.

“I am particularly pleased that teams at the HCA have moved quickly to identify 18 schemes of particular local importance that we can get moving immediately.”

The new programme was launched on 22 December. The closing date for expressions of interest was 30 January.

Shortlisted schemes will be announced in March. The programme is meant to unlock up to 16,000 new homes by December 2014.

Grahame Park, Genesis Housing Association’s regeneration programme in the London Borough of Barnet is one of the first 18 schemes selected by the HCA.

Once the contracts are signed, the cash will go towards building more than 120 homes as part of Genesis’ work to transform the estate in Barnet.

Luke Riley, Genesis Project Director at Grahame Park, welcomed the news: “Genesis’ work at Grahame Park has been progressing well since the first residents were able to move in to their new homes last year.

“This extra funding will be a boost as we take another step forwards towards achieving our vision of providing new homes fit for the 21st century. We will continue to work closely with the HCA so that this funding can be unlocked quickly and benefit the local community.”