HCA and GLA announce housing grants
Fri 8th August 2014, 10:23 am
The Homes and Communities Agency (HCA) and the Greater London Authority (GLA) have announced a combined total of £2,104 billion towards funding for affordable housing.
The HCA has allocated £1.7 billion as part of its grant funding for its affordable homes programme 2015-18.
From the total, £900 million will be split between 160 providers for schemes that are already in the pipeline, which are expected to fund 43,821 new homes. Waterloo Housing Group, a provider based in the midlands, has received the largest allocation: £51 million to build 2,500 new homes.
The GLA has allocated £404 million as part of the mayor’s Housing Covenant Programme for 2015-18.
In total, 54 providers have been allocated grants, including 14 of London’s local authorities. Notthing Hill Housing has received the largest grant: £59.3 million to construct 2,250 new homes. From London’s boroughs, Lambeth received the largest grant: £10.9 million for 303 new homes.
Mayor of London Boris Johnson, said: "The only way to address the huge demand for housing and tackle the 30 year backlog of under-supply is to build more homes.
"We’ve worked closely with expert housing providers to ensure this funding will deliver much needed low-cost homes across the capital."
Andy Rose, chief executive of the HCA said: "We have set in place a solid delivery programme that will ensure a smooth transition from our current affordable homes programme, and that delivery can start promptly.
"Just over half of the available funding has been allocated. The remaining funding will be allocated on a CME basis, giving even more partners time to work up deliverable bids to meet local needs and their future development aspirations."