£850m boost for large-scale developments
The government has announced the recipients of investment aimed at speeding up construction on housing sites across the country.Some £850 million is being provided through the large-scale infrastructure programme, which will provide essential facilities such as roads, schools and parks to support new homes.Communities secretary Eric Pickles has published a shortlist of 36 sites that are to receive a share of the funding."This government's long-term economic plan is getting Britain building again," he said."We are supporting locally-led development and this £1 billion programme will help unlock or accelerate over 200,000 new homes across the country."This is part of our wider package of housing programmes to support home ownership, increase investment in the private rented sector and further increase house building."Funding for the large-scale infrastructure programme is to be made available in the form of a long-term loan, with interest – ensuring a fair rate of return for taxpayers. It is to be provided between 2015 and 2020.In total, £1 billion is to be allocated through the initiative, in addition to £12.5 million capacity funding and expert planning and technical support from the Homes and Communities Agency for councils dealing with large-scale sites. Brokerage support from central government will also be provided to unblock obstacles to development.Among the schemes that stand to benefit from the funding is Greenwich Peninsula in south-east London, which will help provide nearly 10,000 new homes. Ebbsfleet Eastern Quarry will also receive investment for 3,500 new properties.Some 6,200 houses will be constructed on the site of the former Rugby Radio Station, while 4,500 homes are to be provided as part of the Monkton Heathfield development outside Taunton.A number of large-scale sites have already been unlocked by government funding, including Sherford, near Plymouth, where £32 million has been spent on road improvements that will deliver more than 5,000 new homes, shops, schools and community facilities.
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