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New funding to boost local developments

Posted by: In: Real Estate 23 Apr 2014 Comments: 0 Tags: ,

New government funding has been announced to help local areas unlock locally-led housing developments.

From today (23rd April 2014), local leaders can bid for a share of £50 million to invest in infrastructure that supports new homes. A prospectus published by the government explains how to take advantage of this opportunity and apply for support.

The investment will be made available in 2015 to 2016 through the Local Growth Fund to unlock locally-led housing developments of between 250 and 1,499 units which are struggling to move forward.

This is on top of a further £1 billion fund, available as loans to developers to get their large-scale housing developments off the ground.

Communities Secretary Eric Pickles said: “We’ve delivered 420,000 new homes since 2010 – including 170,000 new affordable homes. I’m determined we go even further.

“Today’s multi-million pound package will help get workers back onto locally-led housing developments that had been stalled with the end of the unsustainable housing boom in 2008, and deliver the homes and local growth communities want to see.”

“But I also don’t want those stuck on rundown estates to be forgotten,” Pickles added. “That’s why we’re also investing a further £150 million to breathe new life into those areas, and deliver …read more

Source: The Movechannel



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