Tuesday, December 16, 2014

News: SCR devolution deal in detail - Housing

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The Sheffield city region (SCR) will work with Government to increase house building and maximise the economic returns from public sector land assets.

As part of the "devolution deal" agreed between the Government and the leaders of the SCR, decisions about which assets to sell, and how to regenerate some sites, will be taken together between local and national government to get the best deal for taxpayers and the local economy.

A Joint Assets Board is set to be established with the Homes and Communities Agency (HCA), the body that owns public land and invests in new affordable housing, to achieve a more integrated approach to how the public sector uses its assets. This approach will initially be piloted at specific locations in the SCR.

Previously, sites such as Waverley in Rotherham has secured a slice of the government's Local Infrastructure Fund to accelerate the housing development and the Sheffield city region and central government have agreed to co-invest in infrastructure projects that link to housing sites.

In addition, work will continue to identify housing investment priorities and timeframes across the city region to provide a framework for increased public and private investor confidence and for maximising value from national and local public sector land assets. As part of this, SCR will publish a pipeline of potential priority schemes and seek public and private investment partners.

Medium-sized developments, that may not currently qualify for national funding schemes, are also in focus, with the government and local partners set to look at how they can be supported.

The pipeline of "investable and deliverable" housing schemes are initially focussed on the delivery of 7,000 to 10,000 new homes over a five year period.

Images: Harworth Estates

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