New round of Government funding to boost urban regeneration
In this quick speed read, we look at the distribution of Government Funds for urban regeneration
- 41 councils across the country have been allocated funds to kickstart regeneration projects which could deliver over 2,200 homes for local communities.
- So far, only £35 million of the £180 million Brownfield Land Release Fund 2, announced earlier this month by the DLUHC, has been allocated.
- The remaining £140 million will be distributed over the next two years and is expected to create up to 17,600 new homes and support up to 54,000 jobs in the housebuilding sector.
- There are 59 regeneration projects in this initial round, helping to transform derelict sites such as disused car parks and old industrial sites and deliver high-quality homes.
- Source: Dataloft, Department of Levelling Up, Housing and Communities November 2022