Almost 1,500 new homes could be built in the Sheffield City Region (SCR) from the Spring thanks to the response to an £8million regional pilot project launched just three months ago.
Now eight of the schemes which applied to the SCR Housing Fund pilot move forward to the next stage to be judged on the strength of their business cases. If successful, they will receive funding to get underway in the next few months, building a range of accommodation from apartments to three and four-bedroom homes.
The schemes are based in five of the nine SCR local authority areas, and mean that houses can be built faster to meet the SCR’s aim to provide at least 7,000 homes every year. The pilot, which was open to local authorities, registered housing providers and private sector developers, could become a model for future devolved Government investment in the City Region.
The SCR fund, which is only for schemes in the City Region, complements the Government’s existing national housing investment programmes. The SCR fund is available now and supports local schemes which wouldn’t otherwise progress.
As well as looking at the economic and social benefits of projects, the pilot will test the submitted business cases to ensure schemes will be delivered on time and within budget.
Factors to be considered in the eight business cases will include the cost per home, any increase in land value and local amenities, how much private sector and additional public sector resource can be generated, and what proportion of the investment will come back to the SCR.
Simon Carr, a member of the Local Enterprise Partnership of the SCR, said: “We have been delighted with the high levels of interest we received. This means we not only have promising projects to examine, but also have a pipeline of further projects which we will look at when further funding becomes available.
“We are deeply committed to providing high-quality homes which meet the needs of this booming region. I’m really looking forward to seeing spades in the ground as the successful projects get underway.”
“The way to get things done quickly is through the Sheffield City Region. We continue to build successful partnerships involving both the public and private sectors to develop and support schemes that create new homes, jobs and economic growth. We make it really easy to deliver here.”
The SCR has already developed an extensive pipeline of priority sites to ensure that the Housing Fund will support housing in places where it is needed, and where it fits in with wider infrastructure investment in roads and community facilities.