LEP launches £9m fund to unlock stalled housing sites
HOUSING developers in the Greater Birmingham, Solihull, South Staffordshire and North Worcestershire areas can from today access a new £9m 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, it is suggested.
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 given to funding for site specific feasibility studies.
The programme is intended to support mixed tenure schemes of between ten and 100 homes.
Andy Street, chair of the GBSLEP, said: “It is an economic imperative that we quicken the pace of housebuilding 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.”
Expressions of interest must be submitted by 6th May 2016 at the latest.