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Major housing regeneration project gets £3 million in government funding

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Major housing regeneration project gets £3 million in government funding

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Published by Max Salsbury for 24dash.com in Housing and also in Development, Finance

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The next phase of a major London housing regeneration project has been kick-started with £3 million in funding as part of the Government's Get Britain Building Programme.

The latest stage of Genesis Housing Association's New Hendon Village scheme at Grahame Park, Colindale will deliver 182 new homes by December 2014, 55 of which (30%) will be for social rent.

On top of the £3 million awarded by the Homes and Communities Agency, the project has also received a £2 million grant from the Greater London Authority.

Genesis is working in partnership with the London Borough of Barnet, Countryside Properties and Barnet Homes on the regeneration project which will ultimately see 3,000 homes built over the next 15-20 years. Of the 3,000 homes, 889 will be for social rent, 30% of the project.

The scheme has already delivered 351 new homes, 42% of which are for social rent. The whole project entails the demolition of 1,314 existing homes.

Luke Riley, Project Director for Genesis, said: "It is a fantastic achievement to get all the funding in place. We can now continue the transformation we are bringing to this part of London and it is a real boost for the local community we are working with."

The £570m Get Britain Building programme was announced as part of the Government’s Housing Strategy for England in November 2011, and aims to unlock locally-backed stalled sites with planning permission and deliver up to 16,000 new homes.

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