WECA invests £40m into building new homes in the West of England

WECA invests £40m to kick-start building new homes in the West of England

A £40m injection of funding from the West of England Combined Authority (WECA) will help to create more homes across the region

The WECA Committee and West of England Joint Committee have approved a new Housing Delivery Strategy which sets out the ambitions to increase and accelerate the delivery of new homes for the region between now and 2030.

West of England Mayor Tim Bowles said: “As an attractive and growing region that is bringing new jobs, careers and opportunities to our residents, we need more homes in the right places and at prices people can afford. Our Strategy for Homes will make that happen.

“The strategy will speed up building and make sure we have the infrastructure in place to regenerate places and create new communities with homes of all types, particularly affordable housing.”

Long-term housing strategy

Together, WECA and the West of England councils are developing a long-term Housing Delivery Strategy, which sets out a route map for sites, from land acquisition through to construction. The process will be streamlined and funding will be aligned to build new homes where they are needed most.

Initially, proposals must demonstrate that they deliver at least one additional key benefit – for example carbon reduction or additional affordable housing – or is a flagship for new technologies such as off-site manufacturing.  Over time, the quality bar will rise to maximise  delivery of additional outcomes such as zero carbon, affordable, easily adaptable homes or new technology design and build.

The strategy will speed up building and make sure we have the infrastructure in place to regenerate places and create new communities  – West of England Mayor Tim Bowles

 

The strategy is built around an initial funding package of £40m from the WECA Investment Fund through to 2023 and a bid for £500,000 from the government’s One Public Estate funding programme to release land, owned by the public sector, for house building.

The proposals in the Housing Delivery Strategy support the principles of clean and inclusive growth and will contribute positively to the West of England’s economic recovery by creating both direct and indirect jobs. Additional affordable homes delivered under the strategy will also provide high-quality homes for people in housing need and will help towards alleviating homelessness.

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