Henry Smith MP has welcomed the announcement today of over £6.4 million in funding for housing at Telford Place in Crawley town centre and in Forge Wood, the Borough’s newest neighbourhood.
The Government has announced £866 million of investment in local housing projects to help get up to 200,000 extra homes built. In Crawley this could deliver 570 homes by 2022, and 720 homes in total.
“It’s great news that Telford Place and Forge Wood have been allocated more than £6.4 million Government funding to support local work in Crawley, so we can help ensure we build the homes people need more quickly. This funding could lead to up to 570 homes being delivered by 2022.
“With the determination to build the right homes in the right places we will help the next generation to get the keys to a home of their own.
“Infrastructure improvements such as these are vital to Crawley’s continued success.”
Funding for the Telford Place scheme is to provide an alternative access to the site, an ambitious project to deliver up to 300 residential units in Crawley town centre. The existing access can only support around 100 units. The alternative access would enable significantly more residential development, resulting in up to 200 additional units, and enabling future delivery of further housing.
Forge Wood requires funding for the construction of an acoustic barrier. The new neighbourhood development consists of 1,900 residential units which includes 760 affordable units. Phases 2B and 2C consist of 420 residential units which are dependent on delivery of the acoustic barrier.
This Government is committed to building 300,000 homes a year by the mid-2020s so more people are able to buy a home of their own. The funding announced today is the first wave of funding from the £5 billion Housing Infrastructure Fund which is part of the Government’s comprehensive programme to fix the broken housing market that has left too many people struggling to afford a place of their own.
This funding will support local work that will make housing developments viable and get much-needed homes built more quickly. Without this financial support these projects would struggle to go ahead or take years for work to begin.
This latest investment will fund key local infrastructure projects including new roads, cycle paths, flood defences and land remediation work, all essential ahead of building the homes.
The Chancellor of the Exchequer, Rt Hon Philip Hammond MP, said;
“Today marks the first step of the multi-billion pound investment we announced at the Budget to help build the homes our country needs.
“This fund finances vital infrastructure such as roads, schools and bridges, which will kick-start housing development in some of Britain’s highest-demand areas.”
The Secretary of State for Housing, Communities & Local Government, Rt Hon Sajid Javid MP, said;
“Our priority is building the homes this country desperately needs.
“This first wave of investment totalling £866 million will help get up to 200,000 homes off the ground, making a huge difference to communities across the country.
“This is just one of the many ways this Government is taking action to get Britain building homes again.”
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· The £5 billion Housing Infrastructure Fund is a Government capital grant programme to help unlock new homes in areas with the greatest housing demand. Funding is awarded to local authorities on a highly competitive basis.
· The fund is divided into two streams:
o A Marginal Viability Fund – available to all single and lower tier local authorities in England – to provide a piece of infrastructure funding to get additional sites allocated or existing sites unblocked quickly. Bids have a soft cap of £10 million.
o A Forward Fund – available to the uppermost tier of local authorities in England – for a small number of strategic and high-impact infrastructure projects. Bids have a soft cap of £250 million.
· Today’s announcement forms part of the Government’s Industrial Strategy which sets out a long-term plan to boost the productivity and earning power of people throughout the UK.
· The Strategy sets out how the Government is building a Britain fit for the future – how it will help businesses create better, higher-paying jobs in every part of the UK with investment in skills, industries and infrastructure.