Big investment in housing deals set to deliver thousands of new homes
- Housing Secretary James Brokenshire recently announced that nearly £250 million of housing deals facilitated by the government will deliver almost 25,000 more homes.Some £157 million of this will go towards housing infrastructure in Cumbria and Devon under what is known as the Housing Infrastructure
Fund. In Devon, £55 million will be spent on road improvements and other infrastructure in order to allow 2,500 homes to be built to the south west of Exeter.The money will also 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.Elsewhere, a new partnership has been struck between the government's Homes England department and the Defence Infrastructure Organisation to construct more than 10,000 new properties on seven Ministry of Defence (MoD) bases across the country.The development of land released by the MoD will see the homes built on seven different sites, with the possibility for more surplus land to be used at some point in the future.“As we work to make our military bases more modern and efficient, it's important that former MOD land is used in a way which serves local residents and the economy,” defence minister Tobias Elwood said.“This new partnership underlines our commitment to helping house building in this country and will provide good value for money to taxpayers.”There will also be new homes in London, with over 1,500 homes at the Queen Elizabeth Olympic Park thanks to a £78 million loan from Homes England to help towards the funding of the development. The loan comes out of the government's £4.5 billion Home Building Fund, which offers development and infrastructure money to house-builders.
Tuesday 26 February 2019
Big investment in housing deals
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