New 18m fund to accelerate house building05/12/2016
The government has set up an £18m fund to speed up house building on large sites providing thousands of new homes.
Councils can bid for a share of the ‘capacity fund’ to tackle planning issues that cause delay and prevent builders from getting on site and starting work quickly.
The money will help accelerate delivery of up to 800,000 homes and infrastructure across large sites in England, and is part of a wider programme to increase the number of much needed homes in local areas.
Additional measures include creating 6 new Housing Zones that will support development on brownfield land to provide 10,000 homes.
Housing Minister, Gavin Barwell said: “We want to turbo-charge house building on large sites to get the homes built in the places people want to live.
“These sites offer enormous potential to transform brownfield land into new homes and our £18m funding will help get them built much sooner.
“Capacity funding offers crucial investment to prevent large-scale, long-term developments from stalling. It provides local authorities with the capacity to take projects forward and obtain additional resources and expertise.
“It will primarily be aimed at large sites of 1,500 units or more, and Housing Zones, which support the development of brownfield land. Developers will also be able to apply for funding from the Home Building Fund, which is making £3 billion available to house builders.”
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