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04/08/2009

£25m To Kick-Start Manchester House-Building

Seven major housing schemes in Manchester that have stalled or are struggling in difficult market conditions have been shortlisted for support from a Government scheme to kick-start developments.

Between them, these schemes could bring in an additional £25 million of public investment to the city.

Help is being focused on those developers and housing associations capable of getting important developments back underway by the end of the year through a range of support measures.

If successful, the additional funding would come from the £1.06 billion for development projects across the country recently announced by Housing Minister John Healey.
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Councillor Paul Andrews, Manchester City Council's Executive member for Neighbourhood Services, welcomed the new funding.

He said: "The aim is to get building started on stalled sites within weeks, putting people back to work and putting momentum back into the regeneration of key developments across the city.

"Building new homes for sale and rent is crucial to achieving our aims of matching housing supply to demand as part of the wider regeneration of parts of the city.

"These are all great schemes that have suffered from the challenges faced by the building industry during the current tough economic conditions. This funding will help get things moving again so that more homes are available when people are in a better position to buy them."

Funding to support the developments will come through the Kickstart programme managed by the national housing and regeneration body the Homes & Communities Agency.

(CD/KMcA)

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