Government to invest in 'kick-starting' of housing projects
28th July 2009
Housing minister John Healey revealed that a total of 270 projects have been shortlisted to receive £925 million of funding, with some in each region of England.
It is hoped that 20,000 jobs will be created by the move, with as many as 22,400 homes set to be built.
Mr Healey remarked: "I want to see builders back on these sites within weeks. So I will be calling on successful developers to pull out all the stops so construction can restart as quickly as possible."
The projects in line for the finance will now undergo an assessment to determine which will go ahead, with half of the money expected to be repaid within five years.
Mr Healey's announcement follows the news that £430 million is to be invested in affordable housing this quarter, the figure representing twice the level seen in the same three-month period in 2008.
