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Places for People secures government cash for offsite Birmingham scheme
Forty modular homes will be part of a key regeneration project in Birmingham, being part-funded by the government’s Home Building Fund and delivered by a Places for People and Urban Splash joint venture.
The initial phase of the Icknield Port Loop scheme will include 77 houses in total, with 37 being built traditionally. The rest will be modular, with the first five units delivered to the city centre brownfield site yesterday.
Homes England, working in partnership with Places for People and Urban Splash, secured a £7.45m loan from the government’s Home Building Fund to help develop the units.
It is the second loan Places for People has secured through the Home Building Fund in recent weeks, after its joint venture with Balfour Beatty landed a £78m loan to go towards a 1,500-home development at the Olympic Park in east London.
Help to Buy will be offered on some homes at Port Loop, according to Urban Splash’s website.
The first batch of homes will be on sale from around £349,000, according to local reports.
A total of 1,150 homes are planned at the site. Phase one will also include a new one-acre park and a renovated canal towpath.
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The government launched the Home Building Fund in October 2016 as part of efforts to scale up housebuilding to 300,000 homes a year by 2020.
Communities secretary James Brokenshire today said: “Birmingham’s Port Loop is a great example of how our £4.5bn Home Building Fund is helping to meet the triple challenge of delivering more, better, faster home construction, as well as revving a strong and prosperous Midlands Engine.”
The Port Loop scheme is being co-ordinated by Places for People and Urban Splash, who are working with landowners Birmingham City Council and Canal & River Trust.
Places for People and Urban Splash first unveiled their joint venture in 2013, working on Sheffield’s Park Hill development. The Grade II listed housing estate was shortlisted for the RIBA Stirling Prize the same year.
