Clapham Park in line for £9.5million of housing funding
Housing Minister John Healey MP has announced that Clapham Park Homes has been shortlisted for £9.5million of funding to support the building of new homes in the Clapham Park area and to provide new local jobs and apprenticeships.
The government’s Kickstart programme aims to support housebuilding sites which have experienced difficulties progressing in the difficult current economic climate. Housing associations like Clapham Park Homes have found it hard to secure bank credit for developments following the Credit Crunch.
The £9.5million earmarked for Clapham Park Homes is part of the second round of special Kickstart funding and follows £450million already released nationally to build 11,500 homes.
The funding announced comes on tough terms. 50% of it is recoverable by government and Clapham Park Homes would have to provide schemes for local labour and apprenticeships to secure the monies.
With half of shortlisted homes set to be for affordable rent or sale, this is a boost for first time buyers and prospective Clapham Park Homes tenants.
The project will now go through a rigorous final assessment by the Homes and Communities Agency to determine whether the Clapham Park funding will get the green light. As the funding is intended to support the housebuilding industry when it needs it most, Mr Healey has made clear that one of the key factors will be the ability to complete building work by March 2012.
Commenting on the announcement, Chuka Umunna, Labour’s Parliamentary Candidate for the Clapham Park area, said:
“I was delighted when the Minister’s office contacted me to let me know that Clapham Park had been shortlisted for these monies which will help bring new homes, jobs and apprenticeships to our area.
“This money is in addition to the £56million that we have been spending on regenerating the Clapham Park area since 1997.”
Housing Minister John Healey MP said:
“We are using the power of Government investment to build homes and support jobs at a time when the housebuilding industry needs it most.
“I’m making it a condition of getting this Government money that all builders offer recruitment of local people and apprenticeship schemes.
“With this money we’re kickstarting stalled developments, supporting new jobs, training future generations of construction workers and building the quality homes we need.”
