Government pledges £50m to unlock stalled housing schemes
Published by Max Salsbury for 24dash.com in Housing and also in Central Government, Development
The government has announced the provision of funding to help unlock locally-led housing developments and accelerate growth.
Local leaders can bid for a share of £50 million to invest in infrastructure that supports new homes.
The investment will be made available in 2015/16 through the local growth fund to unlock locally-led housing developments of between 250 and 1,499 units which are struggling to move forward.
Communities secretary Eric Pickles said: “We’ve delivered 420,000 new homes since 2010 – including 170,000 new affordable homes. I’m determined we go even further.
“Today’s multi-million pound package will help get workers back onto locally-led housing developments that had been stalled with the end of the unsustainable housing boom in 2008, and deliver the homes and local growth communities want to see.
“But I also don’t want those stuck on rundown estates to be forgotten. That’s why we’re also investing a further £150million to breathe new life into those areas, and deliver homes that residents can be proud of for years to come.”
Housing Minister Kris Hopkins added: “We’re doing all we can to get the country building, and provide developers with a chance to get on site and start building local housing schemes that are vital for supporting local economic growth.
“Today’s £50m fund will help deliver the infrastructure local communities need to support new homes, and comes on top of the £1billion we’re making available to unlock large-scale sites that stalled at the end of the unsustainable housing boom.
“This substantial investment will lead to thousands of new homes across the country, and deliver new career opportunities in the growing construction industry.”