More than 5,000 new homes are now set to be built after Government budget cuts threatened the future of 165 construction schemes ealier this year
During May and July, 74 uncommitted Kickstart schemes and 91 Local Authority New Build (LANB) schemes were placed under review when the Homes and Communities Agency (HCA) was told to severly reduce its budget.
HCA local teams have now approved more than half of the total - including CZWG’s Rathbone Market scheme in Canning Town, London - which breaks down as 44 Kickstart contracts for more than 4,800 homes and 61 LANB contracts to provide 600 homes.
However it was announced around another 60 schemes have not succeeded in securing HCA funding (click here for the Kickstart projects and here for the LANB projects which missed out on previously promised HCA cash).
As well as easing the demand for housing, the new building projects will generate hundreds of jobs and apprenticeships across England.
Outgoing HCA chief executive Bob Kerslake, said: ‘Following a period of uncertainty, I am pleased to be able to firm up the position with our partners. Our allocations, based firmly on discussions with partners, have maximised the supply of affordable housing and value for money, meeting local priorities.
‘By taking a localist approach we’ve achieved much more than we would have done by acting in isolation.’
Housing minister Grant Shapps said: ‘Times are tough, but we’re working hard to do all that we can to support the construction industry and revive housebuilding.’