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WHAT YOU NEED TO KNOW ABOUT THE MANCHESTER DEVOLUTION HOUSING FUND (2016) www.propertyinvestmentsuk.co.uk
| Date post: | 22-Jan-2017 |
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WHAT YOU NEED TO KNOW ABOUT THE MANCHESTER DEVOLUTION HOUSING FUND (2016)
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The Greater Manchester Housing Fund was created in the first wave of preparations for full devolution.
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It’s through this agency – and, from 2017, the brand new City Mayor – that the £300 million committed by central Government will be distributed.
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…is that the fund will help unlock local stalled housing schemes and result in between 10,000 and 15,000 homes being built across a ten-year period.
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… is that’s just a drop in the ocean compared to the actual demand for homes in the Manchester area. A number closer to 10,000 new homes every year.
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Bill Enevoldson, Chief Investment Officer for the Greater Manchester Combined Authority (GMCA), which will oversee its dispersal, said:
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-Bill Enevoldson
“Access to public funds can be the crucial piece of the financial jigsaw and help get vital housing
schemes started.
Developers are being urged to take advantage of the funding and start building.
Greater Manchester is in a unique position, this money is at our disposal and we will invest it wisely to help speed up the delivery of much needed new
housing of all types right across the region.”
Local Authorities have identified more than 30 sites with existing planning permission that have yet to start on site.
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Deborah McLaughlin, Chief Executive of Manchester Place, said:
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-Deborah McLaughlin
“We cannot afford to sit back when there is a desperate need for new housing.”
Previously the HCA’s executive director North West, she added:
-Deborah McLaughlin
“In 2014 more than half the 10,030 new homes built in the region received some form of HCA funding which enabled them to be delivered.
I believe the Greater Manchester Housing fund has even greater potential and will enable many small
to medium sized schemes of high quality to proceed where they are currently stalled.”
This position is modelled on the London Mayoral Office and is key to all devolution plans…
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…primed to take the lead in housing in the region.
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