Bids to open soon for £500 million small housing Government funding

Houses under construction. Photo: Evelyn Simak
Houses under construction. Photo: Evelyn Simak

Over £500 million pounds of new Government investment for smaller housing schemes will help build up to 15,000 homes and support thousands of jobs in construction, housing minister Kris Hopkins has announced.

 

The £525 million Builders Finance Fund is intended to accelerate construction on smaller sites. Expressions of interest for the fund, to include investment proposals outlining the delivery plan, can be submitted to the Homes and Communities Agency from mid May.

 

The new investment will be made available to unlock “shovel ready” sites of between 15 to 250 houses, which have their plans in place and the support of local people, but need help to get development under way. Focus on smaller schemes is expected to benefit smaller firms who typically build on these sites.

 

A prospectus has been published to help housebuilders prepare their bids.

 

Mr Hopkins said the collapse of the unsustainable housing boom in 2008 had devastated the construction industry, leading to the loss of 250,000 jobs and a falling market share for the nation’s smaller builders.

 

“This funding will get workers back on site, support 15,000 jobs across the construction industry, and build thousands of new homes for communities up and down the country, he added.”

 

The investment will fund locally supported housing. Applicants should have the support of the local community and local authority. Sites must have outline planning consent in place when they submit their bid and must confirm that residential properties financed through the fund will be marketed in the UK.

 

Support through the Builders Finance Fund will be on top of £1Bn that has been made available to unlock 250,000 homes on large scale developments with over 1,500 units. This scheme is currently open for bids.

Please rate

Comments 

Ctrl + Enter

Most Read

Thames Water gets ready to tender £2.6bn AMP7 construction work contracts

Thames Water gets ready to tender £2.6bn AMP7 construction work contracts

Thames' draft AMP7 plan includes a number of complex projects, significant programmes and anticipates a potential increased volume in maintenance activity in response to changing customer and stakeholder needs, population growth and a changing environment. Thames has set out details of the proposed

British Water Annual Lunch 2019

British Water Annual Lunch 2019

London Stadium, a world-class venue, has played host to this year’s British Water Annual Lunch. This highly-regarded networking event is an occasion for members, and invited guests of British Water, to network and promote their businesses to over 200 key industry professionals which will

MWH Treatment wins Severn Trent AMP7 framework contracts

MWH Treatment wins Severn Trent AMP7 framework contracts

We are pleased to hear that our client water sector specialist MWH Treatment has been awarded a place on Severn Trent’s AMP7. The agreement extends an existing 20-year relationship and MWH Treatment (MWHT) will develop and deliver a share of the £2 billion capital works programme,

This website uses cookies to enhance your user experience. By continuing to use this site, you consent to our use of these cookies. See our Cookie Policy.