Councils, community groups and housing associations are set to share a £1 billion regeneration bonanza following the announcement of the fifth Single Regeneration Budget spending round
With match-funding this figure could climb to £3 billion over the seven-year life of the projects.

Altogether, some 160 projects were given the green light in a £1.034 billion SRB allocation -more than three times bigger than than last year.

As in previous years, Greater London was the biggest winner, with £319m funding, over four times more than last year's £75m.

Southwark council's £210m plan to "exploit the strategic location of Elephant and Castle to trigger social regeneration in central south London" has been given the green light. Meanwhile Newham council will lead a £71m scheme to improve housing, schools, shops and services in Forest Gate and Plaistow.

Improved housing, education and transport are at the centre of Islington council's £25m plan for Finsbury Park and in east London, Tower Hamlets council will lead a £21m bid for Bethnal Green, Whitechapel and Shadwell.

Former industrial cities were also major winners. The north west took another £217m, and the north east won £119m and Yorkshire and Humberside secured £108m.

National Housing Federation policy officer Aaron Cahill said SRB partnerships would hope to secure another £2 for every £1 of public funding, considerably boosting the scope of the projects.

"This year some partnerships are picking up £25m. Add in the leverage from other public, private and voluntary sources, and you can see a significant change in strategy from the Government Offices and the DETR centrally who have encouraged the schemes which have won the money."

Source

Housing Today