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Housing Minister Mark Prisk announced today that up to 10,000 new homes could be built by 2015 that will create new jobs and boost the trades.
The minister announced the first 45 projects to be taken forward using the £1 billion Build to Rent Fund which will provide equity finance to house builders and developers.
Mr Prisk said that the innovative new projects, a quarter of which are for London, will be the first step toward creating a more balanced rental market, driven by quality instead of demand.
The Build to Rent Fund is designed to help developers invest in homes built specifically for private rent by reducing the up-front risk in a relatively untested market.
A first round of projects will now receive a share of £700 million government investment package, with a second round of bids for the remaining fund expected to open later this year.
Projects going forward in this round have the potential to deliver between 8,000 and 10,000 homes, and include:
- Genesis Housing Association, with plans for new rental homes around London
- Place First, along with Together Housing Group, who will be building across Northern England
- Crest Nicholson, who intend to bring a significant number of homes to market over many sites across the country
Mr Prisk said that the varied mix of developers, from brand new organisations and small housing providers to long-established developers, will bring new blood into a market currently dominated by small-scale buy-to-let landlords, and will help to give tenants more choice when choosing a home in the future.
Housing Minister Mark Prisk said: “This government is determined to get Britain building, and the Build to Rent Fund is set to help us deliver, with up to 10,000 new homes to be built from these projects.
“We’ve seen overwhelming demand for the fund, and it’s become clear that there’s a real appetite for rental investment. We want to support that, which is why we’ve made a £1 billion Budget boost to the fund.
“Now, these new projects will help us map this almost uncharted market, bringing in new blood to improve rental quality and choice, and building the new homes that this country wants and needs.”
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The government has given the go-ahead for the building of Liverpool’s £425 million Royal University Hospital that will create 750 full-time construction jobs.
The multi-million development is set to employ local people, materials and services where possible to generate an additional £240 million for the local economy and boost the trades.
The Department for Health and the Treasury have approved the funding and the hospital is now assessing bids from two construction companies, Carillion and Horizon, that will design and build the hospital by 2017.
After the bidder is appointed, the hospital will obtain final planning permission and sign contracts, with building construction work expected to begin early next year.
Aidan Kehoe, chief executive, said: “I am delighted that we are now just weeks away from unveiling the design for our new hospital.
“The new Royal is at the very heart of our city and this is a significant step forward in the creation of our world-class hospital.
“It also brings us one step closer to the creation of the Liverpool BioCampus, which has the potential to transform the city, propelling us onto the world stage along with Boston and Singapore.”
What is your reaction to the £425 million funding for the building of new Royal Liverpool University Hospital that will create hundreds of construction jobs and boost the trades? Share your thoughts by commenting here or raise your voice on our Facebook and Twitter pages.
Peterborough City Council has approved plans for building 5,300 new homes as part of the Great Haddon development which is set to create thousands of jobs in the construction industry.
Peterborough Planning and Environmental Protection Committee has backed plans to build three primary schools, one secondary school and some 5,300 new homes alongside the 390 hectare site in the south west of Peterborough
The scheme is expected to create 24,600 new jobs in the next 8 years whilst delivering wider economic growth to the Peterborough area and boosting the trades.
The project has been included in the government’s London-Stansted-Cambridge-Peterborough growth area to help meet the UK’s housing shortage and generate economic growth.
The Committee has asked the Consortium to work up further details for certain aspects of the scheme, such as the design of the Yaxley ‘Loop Road’ and the timing of provision of community facilities, to ensure that those aspects of the scheme are fully scrutinised prior to implementation of the consent.
The applicants’ team will be working these details up over the coming weeks prior to a report being presented back to Committee.
Lucia Serluca, the chairman of the planning committee, said it was essential that good and efficient infrastructure is built before people started moving in to the new homes.
“Let’s not just build the houses and forget about everything else,” she said.
“We need to build the houses in conjunction with the educational centre, the retail centre, to make sure the amenities that those residents will have, they have as soon as they live on the development.”
South Essex College has signed a £33 million contract with Skanska which will see the building of a new 2,500 place student campus in Essex.
Construction of the scheme is set to start immediately with the new learning campus being ready to open in the summer of 2014.
Skanska will be responsible for the construction of three and four storey buildings covering around 150,000 sq ft. It has the target of achieving BREEAM excellent rating and the facility will incorporate rainwater harvesting, air source heat pumps and roof level PV installations.
The project is expected to create hundreds of new jobs in the construction sector.
The new college aims to boost local construction skills and will teach welding, brickwork, carpentry, engineering, mechanical, electrical and plumbing skills.
Following the completion of the new facility, Skanska will undertake landscaping and associated works which will include car parking, cycle storage and external landscaping.
Paul Heather, Managing Director of Skanska for London and the South East said: “We have successfully delivered a number of world-class education facilities across Essex in recent years and this has enabled to bring together a wealth of experience, skills and expertise to this project.
“The development of the new Thurrock Campus will provide excellent facilities for the students, teaching staff and the wider community and we are proud to be part of creating this key learning environment”.