Stalled schemes get £83m from Kickstart
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The government has allocated nearly £83 million to 87 developments in the second round of its £1 billion Kickstart scheme.
The cash is the first allocation from the second round of Kickstart, which is designed to get work moving on projects stalled by the economic downturn.
The £82,986,000 of funding will unlock 5,696 new homes, 3,503 of which will be affordable. Of these, 2,193 will be available through the government’s Homebuy Direct scheme, which helps first-time buyers, 345 will be for other types of low-cost home ownership, and 802 will be for social rent.
Developers receiving funding through the scheme are expected to provide jobs and apprenticeships for local workers, and to be in a good position to start work. Around a quarter of the schemes to receive funding in the latest allocation are expected to resume by the end of the month.
Sir Bob Kerslake, chief executive of the HCA, said: ‘The due diligence process for selecting these successful projects has been rigorous, assessing factors such as value for money, local fit, demand and sustainability to help ensure the homes meet the needs of the people who will live in them.’
Housing minister John Healey added: ‘In this recession, the government has not stepped back and left the homes and jobs we need to market. We’re using public funding to keep Britain building through the downturn.’
The HCA shortlisted 265 schemes for the second round of Kickstart, and a further announcement on other successful bidders is expected in late spring.
Latest Kickstart allocations
| Region | Number of Projects | Amount of Investment (£0,000s) | Number of Homes (gross) |
|---|---|---|---|
| East of England | 12 | 6,553 | 742 |
| East Midland | 10 | 10,461 | 544 |
| London | 3 | 5,020 | 141 |
| North East | 2 | 1,854 | 100 |
| North West | 14 | 10,530 | 805 |
| South East | 8 | 8,152 | 702 |
| South West | 11 | 12,726 | 1,034 |
| West Midlands | 16 | 16,569 | 1,005 |
| York & Humber | 11 | 11,121 | 623 |
| Total | 87 | 82,986 | 5,696 |
A full list of the successful projects is available on the HCA website, and there are also maps showing the distribution of schemes funded in Kickstart round one and round two.
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