The UK Government is to invest £866 million in local housing projects across England, putting a potential 200,000 new homes in the construction pipeline.
Announced on 1 February 2018, the investment is the first wave of financing from the Government’s £5 billion Housing Infrastructure Fund, which commits to building 300,000 homes a year by the mid-2020s as part of a comprehensive programme to “fix the broken housing market.”
Major local infrastructure works
133 council-led projects across the country will receive support to make housing developments viable and get homes built quicker, including key local infrastructure projects including new roads, cycle paths, flood defences and land remediation work.
The £5 billion Housing Infrastructure Fund is a government capital grant programme to help unlock new homes in areas with the greatest housing demand. Funding is awarded to local authorities on a highly competitive basis. The fund is divided into 2 streams:
• A Marginal Viability Fund – available to all single and lower tier local authorities in England – to provide a piece of infrastructure funding to get additional sites allocated or existing sites unblocked quickly. Bids can be up to £10 million.
• A Forward Fund – available to the uppermost tier of local authorities in England – for a small number of strategic and high-impact infrastructure projects. Bids can be up to £250 million.
The government will announce the allocation of final funding from August 2018, from which time the housing projects will begin planning and implementation.
Demand for utility connections services
As with any major construction project, alongside the key logistics works mentioned above, these housing developments will also require the provision and management of multi-utility infrastructure solutions.
At SMS Plc, we have more than two decades of experience and extensive knowledge of carrying out feasibilities, design, procurement and project management of utility infrastructure across a wide range of major UK development projects, making us an ideal partner to help meet this demand.
If you are a local council or contractor looking for connections support on your upcoming major housing project, you can download our utility infrastructure services brochure here.
You can also get in touch with us today for a discussion on all your utility infrastructure needs. Call us on 02920 739 508 or email us and we’ll get back to you.