Aug 1 2007
Fourteen innovative housing projects have been given the green light to bid for investment, at the climax of an ambitious drive to deliver affordable homes and boost economic growth in the North of England.
The Northern Housing Challenge was launched by the Housing Corporation last year to promote new housing-led projects which will help shrink the £30 billion difference in economic performance between the North and the South while providing homes for over 10,500 people.
The 14 new schemes are from a mixture of housing associations, private developers and, for the first time, Arms Length Management Organisations (ALMOs ). The proposals range from new homes to halt migration of young talent from the North, to regeneration projects and schemes offering access to training and employment opportunities.
Sir Duncan Michael, Board Member and Chair of the Corporation's Investment Committee, said:
"We are pleased with the ideas generated though the Northern Housing Challenge and we are looking forward to working with the bidders to drive these forward. The challenge has acted as a catalyst for our work with ALMOs and with projects which include exciting proposals for using grant as equity.
"These 14 schemes have the potential to contribute far more than high quality, affordable housing. Such schemes have long-been recognised as one of the essential agents of economic regeneration in the North and these proposals can offer real economic growth and sustainable communities, contributing to the prosperity and life chances of our residents across the North."
The 14 proposals, which are highlighted below, will now be considered further as part of the 2008-11 National Affordable Housing Programme.