Lincolnshire’s housing sector has received a boost in the shape of more than £22 million of Government funding.
Lincolnshire’s housing sector has received a boost in the shape of more than £22 million of Government funding to help pay for new homes.
Grants announced yesterday (Thursday) from the Housing Infrastructure Fund worth a total of £22,447,763 will support five Lincolnshire housing developments:
- Sleaford West Quadrant £2 million
- Boston Quadrant £3.5 million
- Lincoln Spa Road £2.8 million
- Northern Spalding Sustainable Urban Extension / Section 5 Spalding Western Relief Road £12 million
- Gainsborough Southern Urban Extension £2.1 million
The money is part of an overall capital grant of £2.3 billion to help build 100,000 homes across the country with an emphasis on areas of greatest housing demand.
Last year local councils were asked to submit bids of up to £10 million for either a single item of infrastructure which would unlock one or more housing sites or multiple items of infrastructure to unlock homes in a specific location.
The fund is intended to deliver new physical infrastructure, make more land available for housing in high demand areas, support ambitious local authorities who want to make a meaningful difference to overall housing supply, and enable councils to recycle the funding for other infrastructure projects in order to deliver more new homes in the future.
“This is brilliant news for Greater Lincolnshire and a shot in the arm for our housing sector,” said Ursula Lidbetter, Chair of the Greater Lincolnshire Local Enterprise Partnership.
“Greater Lincolnshire is no different to the rest of the country in that we have a high demand for housing. Together our local authorities have a target to build 100,000 new homes in the long term.
“This new funding from the Government gives that aspiration a boost and we look forward to seeing these new housing schemes brought to completion.”
For more information visit https://www.gov.uk/government/publications/housing-infrastructure-fund