WMCA to provide £200m residential funding pot for the region
Andy Street, mayor of the West Midlands and chair of the West Midlands Combined Authority, has announced the provision of a £200m funding pot to spearhead the delivery of 12,000 homes on brownfield land across the region.
Of these, 2,400 homes will be affordable, as residential schemes receiving investment from the WMCA must make a minimum 20% of the new homes affordable.
Street (pictured) announced the funding on a visit to St Modwen’s £1bn West Works project in Longbridge yesterday.
Andy Street, mayor of the West Midlands and chair of the West Midlands Combined Authority, has announced the provision of a £200m funding pot to spearhead the delivery of 12,000 homes on brownfield land across the region.
Of these, 2,400 homes will be affordable, as residential schemes receiving investment from the WMCA must make a minimum 20% of the new homes affordable.
Street (pictured) announced the funding on a visit to St Modwen’s £1bn West Works project in Longbridge yesterday.
The site of the former Rover car plant, which at its peak employed more than 25,000 people, is being regenerated to provide 350 homes and 900,000 sq ft of business premises, creating 5,000 new jobs.
The site was unlocked by a £6m investment three years ago from the WMCA as part of its “brownfield-first” programme, which targets new housing being built on former industrial sites. St Modwen acquired the site in 2005.
Street said: “The derelict Longbridge site was always a stark and painful reminder of how far the West Midlands had fallen during the so-called ‘boom years’ as the rest of the country surged forward.
“But standing on the iconic site now, when so much life has been breathed back into it, shows just how far we have come in recent years. It is a wonderful example of this region’s undefeatable spirit and its ability to roll up its sleeves and bounce back.”
He added: “This hasn’t happened by accident. We have used the hundreds of millions of pounds secured from government over the past six years to relentlessly deliver on our brownfield-first commitment. This has helped transform dozens of former industrial sites – including Longbridge’s West Works – into quality, affordable homes and decent jobs for local people. This approach has also helped protect our precious green belt from the bulldozer.
“But this is just the start. With another £200m now available to regenerate even more brownfield sites, we are ready to double down and deliver even more affordable homes and quality jobs.”
Photo © West Midlands Combined Authority
