Brokenshire announces £250m in housing deals
Communities secretary James Brokenshire has announced £250m in finance to deliver almost 25,000 homes.
Some £157m will go to housing infrastructure in Cumbria and Devon, enabling roads and natural green space alongside developments. It will pay for a new motorway link road between south Carlisle and the M6, unlocking up to 10,000 new homes at St Cuthbert’s Garden Village.
A £78m Homes England loan will fund more than 1,500 new homes at London’s Queen Elizabeth Olympic Park. The finance comes from the Home Building Fund and it is expected that the first phase of the development will be completed in summer 2021, with full completion at East Wick and Sweetwater by 2029.
Communities secretary James Brokenshire has announced £250m in finance to deliver almost 25,000 homes.
Some £157m will go to housing infrastructure in Cumbria and Devon, enabling roads and natural green space alongside developments. It will pay for a new motorway link road between south Carlisle and the M6, unlocking up to 10,000 new homes at St Cuthbert’s Garden Village.
A £78m Homes England loan will fund more than 1,500 new homes at London’s Queen Elizabeth Olympic Park. The finance comes from the Home Building Fund and it is expected that the first phase of the development will be completed in summer 2021, with full completion at East Wick and Sweetwater by 2029.
Further funds from Homes England will see more than 10,000 homes built on seven Ministry of Defence sites.
Homes England has also agreed a £10.6m fund to enable up to 650 homes on three sites in Welwyn Garden City and Hatfield, Hertfordshire, using off-site modern methods of construction to speed up delivery. Work will begin in June.
Brokenshire said: “By investing in infrastructure, freeing up public sector land and offering targeted loans, we are making the housing market work.
“These deals struck today will help us build almost 25,000 more homes, which is another symbolic step towards our homebuilding targets.”
He added that the department was “invoking the spirit of Britain’s post-war push to build as we strive to hit our target of 300,000 new homes a year by the mid-2020s”.
To send feedback, e-mail emma.rosser@egi.co.uk or tweet @EmmaARosser or @estatesgazette
