News: Housing developments kickstarted in Rotherham
Housing Minister John Healey has announced that 26 stalled development projects across Yorkshire & the Humber have been shortlisted for a share of £925m, which could help get building work on 22,400 homes back on track and create 20,000 jobs.
The projects, worth £83m in the region, involve more than 2,000 homes. They include two housing schemes in Rotherham. The Embrace development by Strata Homes in Dinnington and Westleigh Developments at Express Park's Waterfront development at Manvers.
The Government expects almost half the money to be repaid within five years, over one third will go to housing associations and others to help them manage the affordable housing and less than one fifth (18%) consists of direct grant to support developers. Only developers who have accepted a realistic current market price for their land are eligible for Government investment.
John Healey said: "We've pledged to use the power of Government investment to help Britain through the recession. This billion pound Kickstart programme will get stalled building work back on track, create jobs and help build the quality homes we need.
"I want to see builders back on these sites within weeks. So I will be calling on successful developers to pull out all the stops so construction can restart as quickly as possible."
Sir Bob Kerslake, Chief Executive of the Homes and Communities Agency, said: "The response to our bidding process shows the level of appetite and capacity for development which is out there in the house building sector. Despite the economic downturn, demand for new homes remains and with some help, quality schemes can be unlocked, adding to new supply very quickly."
HCA website
Rotherham
The projects, worth £83m in the region, involve more than 2,000 homes. They include two housing schemes in Rotherham. The Embrace development by Strata Homes in Dinnington and Westleigh Developments at Express Park's Waterfront development at Manvers.
The Government expects almost half the money to be repaid within five years, over one third will go to housing associations and others to help them manage the affordable housing and less than one fifth (18%) consists of direct grant to support developers. Only developers who have accepted a realistic current market price for their land are eligible for Government investment.
John Healey said: "We've pledged to use the power of Government investment to help Britain through the recession. This billion pound Kickstart programme will get stalled building work back on track, create jobs and help build the quality homes we need.
"I want to see builders back on these sites within weeks. So I will be calling on successful developers to pull out all the stops so construction can restart as quickly as possible."
Sir Bob Kerslake, Chief Executive of the Homes and Communities Agency, said: "The response to our bidding process shows the level of appetite and capacity for development which is out there in the house building sector. Despite the economic downturn, demand for new homes remains and with some help, quality schemes can be unlocked, adding to new supply very quickly."
HCA website
RotherhamImages: homesbystrata.co.uk
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