Council backs stalled housing with cash
A council is pumping £770,000 into a series of stalled developments which can now deliver more than 200 new homes and 380 jobs.
Walsall Council is using cash from the New Homes Bonus to issue loans and grants to four construction companies on five sites with a combined value of £20 million.
Developers had to satisfy a range of criteria and also have part-built developments or schemes with planning permission which had not yet begun, before they could get the cash.
The loans will be repaid by the developers and reinvested in other schemes to help create new jobs and homes.
Adrian Andrew, Walsall Council member for regeneration, said: ‘I am proud and delighted to be able to announce a financial package of almost £800,000 that will help more than 200 homes get built.
‘This doesn’t just mean new homes taking shape. This is also much-needed jobs being created and fresh investment being unlocked.
‘Around 300 people could be working on the construction schemes. A further 80 jobs will be created in the care and support sector through the development of these sites.
‘All this means we’ll help safeguard jobs and create new ones. It’s a key priority for us to help create and safeguard private sector jobs and this does just that.
‘Walsall is yet again bucking the national trend and shows that we are open for business as a borough.
‘I am delighted that the government is following in our footsteps with a similar scheme called Getting Britain Building.’
Schemes getting cash
- Midland Properties will receive £245,000 loans to help resume building work at the former Field Road industrial estate in Bloxwich to create 18 homes for sale and rent as well as to help build 11 rental properties at the former Chamberlain & Hill site in Reeves Street, Bloxwich
- Stanley Developments are set to receive a £175,000 grant to help work start on 85 private and affordable older person extra care homes for rent or sale at Bentley Road North in Bentley.
- Jessup Brothers Ltd are to receive a £175,000 grant to resume work on the part built Walsall Waterfront development to create 82 private and affordable flats.
- BT Felton and Sons are set to receive a £175,000 loan to build 12 homes for private sale in Romney Way, Pheasey, Great Barr.