City gains £80m housing boost
_tcm81-120595.jpg "Artists impression of affordable housing at Brock Street, L4")
Liverpool has secured a £38 million Housing Corporation grant to help increase the number of affordable homes in the city.
The sum, which is nearly 50 per cent up on the previous allocation, will provide more than £80 million investment into affordable homes with additional private finance.
The money will provide nearly 1,000 new or refurbished homes for sale or rent to families at reasonable prices. Most schemes will be concentrated in Housing Market Renewal areas but developments in Norris Green, Dovecot, Lee Valley and Garston will also be included.
Councillor Marilyn Fielding, Liverpool's executive member for housing and neighbourhood services, said:
"This is a huge investment by the Housing Corporation and we could even get more in subsequent stages. It shows quite clearly that we are getting things right here in Liverpool - a ringing endorsement of the city council's housing policy.
"The Housing Corporation relies on the council to scrutinise all bids from registered social landlords to make sure they are deliverable and cost effective, fit in with the council's corporate plan and ensure the city gets the right type of high-quality accommodation that meets housing needs. The fact that we have received such a large grant shows the Housing Corporation's confidence in the work that is being done."
The schemes will be delivered over the next three years and will support the city's strategic priorities of improving quality and choice of housing for the residents of Liverpool, particularly those who are being re-housed as part of the regeneration of priority neighbourhoods.
The Housing Corporation's £8.4 billion National Affordable Housing Programme is the largest investment in its history. Nationally it will provide at least 155,000 new affordable homes in the next three years, almost double the number compared to 2006-2008.
The new allocations successfully meet the Corporations higher standards for both value and quality. They require lower grant per home, while delivering higher design standards, an increase in larger homes, and a step change reduction in their carbon footprint, saving more than 90,000 tonnes of CO2 a year.
The North West will receive £526 million for affordable housing of which just 60% has been allocated so far. The remainder will be allocated through on a quarterly basis starting April 2008.
(Released: 25/03/08)