£9million unlocking housing sites fund launches
Housing developers in the Greater Birmingham, Solihull, South Staffordshire and North Worcestershire areas can from today (15 February) access a new £9million fund to unlock stalled housing sites.
Launched by the Greater Birmingham and Solihull Local Enterprise Partnership (GBSLEP), the Unlocking Housing Sites Programme will help to bring forward at least 500 new homes in the area.
Designed to deliver targeted assistance to stalled sites which are ready for development, the funding is available as grant, loan or equity. Consideration will also be give to funding for site specific feasibility studies.
The programme is intended to support mixed tenure schemes of between 10 and 100 homes.
Andy Street, Chair of the GBSLEP said: “It is an economic imperative that we quicken the pace of house building in the region. This LEP fund is designed to address the reasons some potential housing sites have not been developed and will therefore contribute to the overall goal of increasing the number of new homes available in the area.”
The programme is open to private sector developers, local authorities and registered providers for developments in the Greater Birmingham and Solihull Local Enterprise Partnership’s geographical area.
Councillor Tahir Ali, Birmingham City Council’s cabinet member for development, transport and the economy, said: “I welcome the launch of this new housing fund. It is fantastic news for the region and builds on the forward-thinking work we are already doing in Birmingham through the Birmingham Municipal Housing Trust to close the housing gap and bring high quality, affordable housing to families across the city.”
Developed with Local Growth funding, the Unlocking Housing Sites Programme will be managed by Birmingham City Council with Finance Birmingham.