A £1.8 million Walsall Council scheme to kick start the housing market is having an impact in Bloxwich.
Grants have been made to help developers re-start stalled housing schemes across Walsall. In the first phase, five schemes were helped with work starting to take shape with more money now on offer.
In Bloxwich, 18 new homes are set to take shape off Field Road and Revival Street as well as 11 in Reeves Street, Bloxwich after Midland Properties received a £245,000 grant.
Councillor Adrian Andrew, Walsall Council cabinet member for regeneration, said: “Walsall is leading the UK in this field, I’m proud to say and it’s excellent to be able to stand here and see real progress and new homes take shape.
“In Bloxwich, the Field Road site was a former industrial estate while the Reeves Street site was a former factory. This sees the land pressed back into constructive use and it’s great to see.
“We believe that helping create and safeguard new jobs is a vitally important thing for Walsall Council to do and this deal is good news for Walsall and good news for Bloxwich.
“This is another example of us investing in Bloxwich.”
Simon Griffiths, of Upward Developments who are working with Midlands Properties on the Bloxwich scheme, welcomed the help the Walsall Council New Homes Bonus grant had given.
He said: “It’s enabled us to access finance … to re-start the scheme.”
Across Walsall, the first phase of New Homes Bonus grants has seen more than £770,000 awarded to help build more than 200 homes worth £20 million.
A second round has now been opened with a further £1 million on offer making almost £1.8 million earmarked for the project. Money comes from Government and it is up to local government to decide how the money is allocated.
In the second phase, housing developers have been urged to approach Walsall Council to help secure funding before a deadline at noon on March 30. Successful bidders will need to demonstrate that their scheme will be kick started with a share of the money.
Winning projects need to be value for money and must have planning permission in place.
Applications will be invited for loans, grants will only be available in exceptional circumstances.
To be eligible, applicants need to have full planning consent for more than 10 homes secured, freehold interest or a minimum 99 year lease, confirmed the bid is State aid compliant and demonstrated that their scheme has stalled due to financial viability.
Application forms and further details on Walsall’s new homes bonus are available from http://bit.ly/wOmhbQ.
For more information contact Neil on 01922 655411 or firstname.lastname@example.org.