Posts tagged £300 million
The Government’s fund is set to build around 16,000 new homes and provide financial support for housebuilders on stalled sites across the country, paving the way for employment opportunities in the trades.
The HCA has estimated that the shortlisted schemes could unlock the building of 7,000 homes and create thousands of new jobs in the building construction sector.
HCA chief executive Pat Ritchie said: “The Get Britain Building programme is offering housebuilders the financial support to get stalled developments back on track, and I’m pleased that more than 100 projects can move forward to the due diligence phase.
“We listened to feedback from the sector and reduced the minimum scheme size to 15, and I’m therefore especially pleased that 20 smaller projects have come forward and the majority of bids have come from SMEs.
“These projects must now prove that they can be delivered quickly, provide value for money for the taxpayer and fit with local priorities. As well as building much-needed new homes, the work will create or protect jobs, and boost local economies.”
Around £300 million of recoverable investment has been allocated to more than 130 projects through the first round of the scheme expected to be completed by December 2014. Round two of the scheme, which was announced last week, will continue until March 2015.