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£250m allocated through Housing Infrastructure Fund
More than £250m in infrastructure funding has been awarded by the government, aimed at unlocking 20,000 new homes in the Midlands, the East of England and the South East.
£250m allocated through Housing Infrastructure Fund #ukhousingThe investment, which will come from the Housing Infrastructure Fund, will pay for roads, schools, public transport and utilities in six locations, including Leicestershire, Suffolk and Surrey.
Announced in 2016, the £5.5bn Housing Infrastructure Fund provides cash to free up sites that need infrastructure investment before being built on.
Oxfordshire County Council will receive the largest share of the funding, with £102m being awarded to build an ‘A40 Smart Corridor’, which will help build 5,050 homes.
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Around 7,899 homes will be unlocked in Kent through road improvements, for which £38.1m has been awarded.
Earlier this year, Inside Housing revealed several councils, including Hackney, Kettering and Croydon, had their bids for the fund rejected, despite being included in a shortlist of councils that would receive money.
Our analysis also showed that the fund, which allocates money based on a formula for calculating affordability, disadvantages areas in the North of England.
Chancellor Sajid Javid said: “When I was housing secretary, I set this fund up to help ensure homes can be built in areas that need it the most and enable people to live where they want.
“I have now launched an infrastructure revolution and this step-change in funding will ensure that all parts of the country benefit as we level up opportunities.
“This £250m will increase the number of houses available to buy and help support people to achieve their dream of homeownership.”
Housing secretary Robert Jenrick said: “This government is committed to building the homes this country needs, so that more people can realise the dream of owning their own home.
“This £250m funding will ensure that communities have the right infrastructure to enable new homes to be built, such as road and transport improvements.”
The Housing Infrastructure Fund allocations announced today were:
- £52.3m for Surrey County Council to support the reallocation of a water treatment facility, aimed at unlocking 1,500 homes through the Slyfield Area Regeneration Project
- £19.8m for Suffolk County Council to deliver transport infrastructure, aimed at unlocking 2,000 homes through the East of Ipswich Strategic Highway Works
- £29.4m to Rutland County Council to deliver a new school and infrastructure, aimed at unlocking 2,245 homes through the St George’s Barracks development
- £102m for Oxfordshire County Council for a new A40 Smart Corridor, aimed at unlocking 5,050 homes
- £38.1m for Kent County Council to deliver road improvements to two junctions of the A249, aimed at unlocking 7,899 homes through the Swale Transport Infrastructure bid
- £14.7m for Leicestershire County Council for the Melton Mowbray Southern Distributor Road scheme, aimed at unlocking 2,340 homes
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