- Homes England has agreed a £7.45million loan from the government's Home Building Fund for the development of 77 homes by Urban Splash and Places for People
- The loan will support the development of the first of 1,150 homes at Port Loop on the edge of Birmingham City Centre
- The longstanding venture of Urban Splash and Places for People has already delivered over 3,000 homes and will deliver phase 1 at Port Loop
The first phase of the Icknield Port Loop scheme, a half mile canal loop within walking distance of the City Centre, will provide a mix of 77 modular, factory built and traditionally constructed homes on this large brownfield site.
The funding will support the partnership Homes England, the government's housing accelerator, has formed with developers Urban Splash and Places for People, to deliver regeneration and create a new community on this key site in Birmingham.
Both partners have extensive experience and a strong focus on building community and are part of the partnership involved in the masterplan for 1,150 new homes across the whole site together with Birmingham City Council and the Canal and Rivers Trust.
Phase 1 of the development will include a new park, improved canal towpath and 77 homes built around shared gardens. In addition to the 37 traditionally built properties, there will be 40 modular homes, which can be customised by customers. Once constructed, the homes will be craned into place on site, minimising construction time on site and speeding up the build process.
The wider scheme is being coordinated by Urban Splash and Places for People, whose joint venture is working in partnership with the original landowners, Birmingham City Council and Canal & Rivers Trust.
The Communities Secretary, Rt Hon James Brokenshire MP, said:
"This Government is committed to making the dream of home ownership a reality for a new generation as we power through to delivering 300,000 homes a year by the mid-2020s.
"Birmingham's Port Loop is a great example of how our £4.5 billion Home Building Fund is helping to meet the triple challenge of delivering more, better, faster home construction, as well as revving a strong and prosperous Midlands Engine."
Ian Martin, Head of Investment in the Midlands for Homes England said:
"The sheer scale of the scheme provides the opportunity to build a whole new community and will be one of the largest regeneration schemes in the Midlands. This will provide a much needed boost to the region's housing stock, which is exactly what the Home Building Fund was established to do."
Adam Willetts, speaking on behalf of the partnership, said:
"Port Loop is one of the most exciting regeneration developments in the country and we are delighted to be delivering the first of many homes there. We are also on site creating new public realm space in the form of a one-acre park, as well as progressing our plans for the broader area. We are delighted to receive the support of Homes England for our plans."
ENDS
For more information contact Kate Hall, Communications Officer at Homes England 0115 852 6900 or 07967 782252
