Homes England has welcomed a £1bn funding boost that, they say, will help long-term funding certainty to enable the delivery of more homes.
The newly released funding means that Homes England’s 23 strategic partners will be able to bid for grant funding which, if successful, will extend their existing deals from March 2024 to March 2029.
The bidding process requires existing strategic partners to demonstrate how they can achieve ambitious plans to build affordable housing and contribute to the wider new build supply this country needs.
Addressing Homes England’s strategic priorities, including the use of brownfield sites for development, engagement with local SME contractors, working with smaller housing associations and the use of modern methods of construction, will be the key to a successful bid.
Chairman of Homes England, Sir Edward Lister, said: “The £1bn in additional grant funding will give our strategic partners more flexibility and longer term funding certainty so that they can build the affordable homes their communities need over the next ten years. I welcome today’s news and urge our housing association partners across England to get involved.”
Since July 2018, Homes England has agreed 23 strategic partnership deals with 28 housing associations, giving them the investment, flexibility and resources they need to deliver a range of affordable housing including social rent, supported living and shared ownership homes.
The funding is part of a £2bn affordable housing package announced by the prime minister in September 2018.