Bidding opens for a share of affordable homes fund

Housing associations are now bidding for a cut of the £800m worth of funding that the Government has just made available to help meet the need for more affordable housing in the UK.

The fund is managed by the Homes and Communities Agency (HCA) and is one of the tools that the organisation is using to increase the number of available homes and housing, which is one of its key goals.

This is the second wave of cash that the Government has made available. In July, they provided £886m to the associations. In that funding round, 2,697 firms won a share. These companies plan to build an additional 43,821 affordable homes across the UK, using the funding they have secured.

There is a total of £1.7bn in funds being set aside to be fed into the market between 2015 and 2018. In addition, the private finance sector is expected to invest £21.3bn into affordable house construction. This is the fastest rate of investment for twenty years. In total, 165,000 new, low-cost homes are expected to be built from next year onwards.

Architects in Chester, and many other parts of the country, are going to be involved in designing these homes for the assorted associations that win their bids. In the Chester area, even small developments now include affordable housing. The new proposal for the Hill Top Farm development in Davenham and plans for the Delamere Forest School site in Norley are just two examples of this.

Posted by Matt Hughes
October 28, 2014
New Buildings

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