Housing schemes shortlisted for £150m government boost

Major residential schemes at 14 sites across England have been earmarked for more than £150m of government investment.

The sites will now proceed to due diligence process. In total, the schemes could deliver up to 38,000 new homes.

If the due diligence process is passed, they will receive funding from the Local Infrastructure Fund, which has a total budget of £474m.

Bids for the 14 sites from developers exceeded £150m.

Housing Minister Mark Prisk said: “This government is determined to get Britain building again. That’s why we are working with local housing schemes that have their plans in place, but need help to move forward.

“Our support through the Local Infrastructure Fund will help deliver the homes this country needs, create thousands of jobs and inject millions of pounds of investment into local economies.”

Homes and Communities Agency chief executive Andy Rose said: “This investment from the Local Infrastructure Fund is about building momentum behind some of those larger locally-backed housing developments to accelerate the supply of new homes.

“There is work to be done to ensure these bids deliver value for money for the taxpayer and fit with local priorities, but I am looking forward to getting out on site and seeing progress on successful bids in the months ahead.”

More details are available here.

14 shortlised schemes