Get Britain Building Programme receives enthusiastic feedback
The Homes and Communities Agency (HCA) has confirmed that they have received a very positive response to the Get Britain Building Programme with the programme becoming a central part in tackling the housing crisis.
Funding allocations under a special commissioning stage, running alongside the main bidding process, has also been announced.
A total of 170 expressions of interest submissions have been received under the main bidding process, many of these submissions contained bids for multiple schemes. The HCA will now asses these expressions of interest looking at factors such as; value for money, deliverability and fit with local priorities.
A shortlist of schemes should therefore be released by mid-March.
Furthermore, 18 sites will go forward to the next stage of the assessment process to unlock delivery on commissioned schemes, these are of a high importance to particular communities and can create ample local benefits. Up to £46m could be allocated to the 18 commissioned schemes to deliver 1,300 new homes including on public sector sites.
Chief Executive of the HCA, Pat Richie said:
“Our partners have once again demonstrated their appetite to get Britain building by developing much needed new homes, in turn generating additional benefits through economic growth and activity.”
And went onto say:
“We have a strong response to our programme and will now work to establish a shortlist of schemes which fit strongly with locally identified priorities and represent good value for money for the taxpayer. I am particularly pleased that teams at the HCA have moved quickly to identify 18 schemes of particular local importance that we can get moving immediately.”
The Get Britain Building Programme has been established to address difficulties in accessing development finance faced by some house builders and also to bring sites with planning permission forward. The programme will operate by making funds available to projects on commercial rates, or taking equity stakes to share risk.
Launched on the 22nd of December, this new programme is part of the Government’s housing strategy and managed by the HCA. Shortlist schemes will be announced in March with the programme expectantly unlocking up to 16,000 new homes by December 2014, including 3,200 affordable properties.
The funding will be released in the hope of getting sites started by next July, and is expected to support up to 32,000 new jobs. Part of the overall new housing strategy brought about by the Government, the Get Britain Building Programme will play an integral role in delivering up to 450,000 homes by 2015.
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