Land initiative sites to deliver 450 homes
The Homes and Communities Agency has announced the next three sites to be developed under its public land initiative.
The sites are owned by the HCA, Birmingham City Council and Paddington Churches Housing Association, and will deliver 450 homes between them.
The public land initiative gives developers access to public land for house building on a ‘deferred payment’ basis. Developers are expected to accept lower profit margins in exchange for the reduced risk involved in such schemes.
The latest three developments are a section of the Lightmoor Urban Village in Telford, owned by the HCA; the Mildway regeneration project in Tower Hamlets, on land owned by Genesis subsidiary Paddington Churches Housing Association; and six sites on three clusters in Birmingham.
The announcement came as housing minister John Healey allocated £263 million for new affordable homes through the National Affordable Housing Programme and the HCA’s Kickstart scheme.
Mr Healey said that since June the government has allocated £4.2 billion to housing to deliver 75,000 homes.
‘We can’t cut our way into economic recovery over the coming year – we must invest in building the new homes that people need,’ he said.
The new PLI schemes
‘The Croppings Parcel A’, Lightmoor Urban Village, Telford
Ownership: Homes and Communities Agency
No of homes: 100
No affordable homes: 30
Planned start date: Summer 2010 for road infrastructure; November 2010 for development.
Outline planning permission secured.
Mildmay Regeneration project, Tower Hamlets, London
Ownership: Paddington Churches Housing Association, part of Genesis Housing Group; acquisition funded by HCA. The project will be delivered by Genesis Housing Group.
No of homes: 139 homes
No of affordable homes: 49 affordable
Planned start date: August 2010, subject to planning in April 2010
Birmingham PLI cluster (6 sites within three clusters - Pype Hayes Road, Pype Hayes; Brunswick Road, Handsworth; Frankley Lane & Bourn Avenue, Ley Hill/Northfield; Admington Road and various sites at the Chestnuts Estate in Sheldon)
Ownership: Birmingham City Council
No of homes: 230
No. of affordable Homes: 80 (social rent)
Planned Start Date: September 2010 for the first site
Two sites (Pype Hayes Road and Admington Road) have full planning consent and the City Council is in the process of seeking full consent for the remainder.
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Readers' comments (2)
susan wallerby | 07/04/2010 6:51 am
Please could someone clear something up for me? £263 million divided by 469 homes comes to £560,767.591 over half a million allocated on the building of each home. Are we paying for the private homes as well? Because if we are not the figures are even worse; £263 million divided by 159 homes is £1,654,088.05
over £1.6 million pounds per home.
Could someone clarifry my figures for me, I know my maths isn't that good, but these numbers seem to be the equivalent of another government bailout, this time for the building industry.
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Housing Professional | 07/04/2010 10:58 am
So funny. Well genesis got loadsa money from the government to bail them out as they brought sites like confetti at silly prices. Talk is that banks should be split so we the public have some protection from the gamblers who gamble our money and make billions and when they get it wrong the government come along and bail them out. Developers who want to gamble should do so but not with Public assets. Genesis are a housing association not a developer and i think we should all remember this. i don't want to be a pessimist but if we don't get better regulation we will see a big housing association going bust as they act more like private developers than social enterprises providing affordable housing. The question is which one will it be?
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