A £420m fund to Get Britain Building was announced on 21 November 2011 by the Prime Minister and Deputy Prime Minister as part of the Government’s Housing Strategy for England.
Get Britain Building is intended to unlock stalled sites with planning permission to support construction activity and provide new homes. It is intended to address difficulties in accessing development finance faced by some housebuilders and to help bring forward marginal sites by sharing risk.
The programme is open to all private sector organisations which control land and can develop at least 25 homes on the stalled site by December 2014. It is not limited to smaller companies but the HCA has tried to streamline the first stage of the application process to make it easier for all developers to access funding.
We have received a strong response to the Programme with 170 expressions of interest received by the closing date of 12pm Monday 30 January, with many including multiple schemes. The expressions of interest will now undergo an initial assessment by the HCA – looking at value for money, deliverability and fit with local priorities – with a shortlist of schemes to be established by mid-March.
In addition, we have announced the first 18 schemes to be taken forward to the next stage of the assessment process, to unlock delivery on commissioned schemes which are of high importance to particular communities and can create wider local benefits. Subject to due diligence and contracting, the 18 commissioned schemes could deliver up to 1,300 new homes, including on public sector sites.
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