Housing Minister Kris Hopkins coonfirmed the deal that will get nearly 500 homes built specifically for private rent last week.
The agreement will grant £45.5 million to Genesis Housing Association to build 485 homes for private rent across four sites in London and Chelmsford. The homes will be a mix of 1, 2, and 3-bedroom properties.
The Build to Rent fund is designed to help developers build quality homes specifically for the private rented sector. Construction is already underway on 2 Round 1 projects in Southampton and Manchester, and last week a third deal was signed which will lead to 190 homes for private rent across 6 different sites.
This month’s deal is the fourth under the government’s £1 billion Build to Rent scheme – and the largest to date. Indeed, the homes in London and Chelmsford join a range of existing projects, which will see construction underway on 10,000 new homes for private rent by 2015.
Housing Minister Kris Hopkins said: “With millions looking to live in and around London, there is a real demand for good quality homes available to rent on flexible terms.
“Today’s Build to Rent deal is our fourth and the largest to date. It will deliver …read more
Source: The Movechannel