East Midlands sees major housing boost

22-Aug-2005

It has been announced that the East Midlands is to receive a major boost in its development of affordable housing.

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A government grant to the value of £168 million will be provided to the area to help regeneration projects, including the increased provision of affordable homes designed to bring in more first time buyers.

Each year the government puts aside £5.5 billion for housing investment, available in Regional Housing Pots (RHP's), and the East Midlands has this time been awarded the largest single grant out of that money.

Bidding for the project will be open to any developers and non-registered organisations, and successful groups must commit to providing 75,000 new social homes over three years, whilst maintaining affordable housing.

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"This significant investment reflects an increased focus on helping people unable to afford adequate housing as well as those having difficulty getting onto the housing ladder," commented housing minister Baroness Andrews.

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