Posts tagged Public housing
Housing Minister Mark Prisk announced today that up to 10,000 new homes could be built by 2015 that will create new jobs and boost the trades.
The minister announced the first 45 projects to be taken forward using the £1 billion Build to Rent Fund which will provide equity finance to house builders and developers.
Mr Prisk said that the innovative new projects, a quarter of which are for London, will be the first step toward creating a more balanced rental market, driven by quality instead of demand.
The Build to Rent Fund is designed to help developers invest in homes built specifically for private rent by reducing the up-front risk in a relatively untested market.
A first round of projects will now receive a share of £700 million government investment package, with a second round of bids for the remaining fund expected to open later this year.
Projects going forward in this round have the potential to deliver between 8,000 and 10,000 homes, and include:
- Genesis Housing Association, with plans for new rental homes around London
- Place First, along with Together Housing Group, who will be building across Northern England
- Crest Nicholson, who intend to bring a significant number of homes to market over many sites across the country
Mr Prisk said that the varied mix of developers, from brand new organisations and small housing providers to long-established developers, will bring new blood into a market currently dominated by small-scale buy-to-let landlords, and will help to give tenants more choice when choosing a home in the future.
Housing Minister Mark Prisk said: “This government is determined to get Britain building, and the Build to Rent Fund is set to help us deliver, with up to 10,000 new homes to be built from these projects.
“We’ve seen overwhelming demand for the fund, and it’s become clear that there’s a real appetite for rental investment. We want to support that, which is why we’ve made a £1 billion Budget boost to the fund.
“Now, these new projects will help us map this almost uncharted market, bringing in new blood to improve rental quality and choice, and building the new homes that this country wants and needs.”
What is your reaction to the new £1bn build-to-rent fund that will deliver 10,000 new homes and boost the trades? Share your thoughts by commenting here or raise your voice on our Facebook and Twitter pages.
Plans to regenerate a former factory site into the building of affordable housing and a social care home have been submitted to Leeds City Council.
The site sits on a former tannery and soft drinks factory which hasn’t been used for a number of years and is now run down and overgrown. The building work will be carried out by Mansell and LNT Construction.
The £10 million regeneration scheme has been partially funded by the Homes and Communities Agency. It is expected to create hundreds of jobs in the building sector and boost the trades.
Home Group’s head of development, Teresa Snaith, said: “The current site is overgrown and hasn’t been used for a number of years. At a consultation event we held with local residents they have said that they are keen to see the area regenerated and put to good use.
“We hope to build 51 homes which will be available for affordable rent and our partners Ideal Care Homes will also build a 64-bed care home specialising in residential and dementia care if the planning is approved.”
Craig Houston, Regional Director for Mansell’s Yorkshire Business Unit commented “We are excited to be involved with this major regeneration scheme, hopefully one of the first of many site-led opportunities to come to fruition in the coming months.”
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.
“Hundreds of plumbers, electricians and gas engineers to benefit from the investment”
Millions of funding to get low carbon heating into peoples’ homes, including into hundreds of social houses across the nation, is still up for grabs according to the Department of Energy and Climate Change (DECC).
Local authorities, housing associations and registered providers of social housing are being urged to benefit from the millions of pounds available from the Renewable Heat Premium Payment (RHPP).
The scheme will replace more renewable heating systems, including biomass boilers, solar hot water panels and heat pumps, creating new employment opportunities for plumbers, electricians and gas engineers.
The RHPP has reopened thanks to the high value for money of projects already allocated funding under the scheme which will make tenants’ homes warmer, cosier and far more energy efficient.
Today, the DECC announced that up to £2.5 million of additional funding will be allocated under this element of the scheme.
Energy and Climate Change Minister Greg Barker said: “We have already awarded nearly £5 million to 72 projects under this year’s scheme, helping householders stay warm this winter and move away from expensive old heating systems to new clean renewable ones.
“But the high value for money of the bids we have received to date means that there is still money up for grabs and I would urge social landlords across the nation to apply and take advantage of all this scheme has to offer.”
The closing date for applications is 9 October 2012 and successful bidders will be announced shortly afterwards. You can find out more about the scheme and how to apply from here.
What is your reaction to the reopening the of the Renewable Heat Premium Payment scheme which will bring financial investment to the trades and create new jobs in the industry? Share your thoughts by commenting here or raising your voice on our Facebook and Twitter page.