Rented Housing: Construction

(asked on 7th December 2016) - View Source

Question to the Department for Levelling Up, Housing & Communities:

To ask the Secretary of State for Communities and Local Government, with reference to his Department's press release 2,000 new homes and thousands of jobs in Birmingham, Leeds and Manchester, published on 1 December 2016, if he will set out how the funding from the Government's new Home Building Fund for the construction of those purpose-built rental properties will be allocated.


Answered by
Lord Barwell Portrait
Lord Barwell
This question was answered on 12th December 2016

There are three sources of funding for all three sites: the Home Building Fund investment will comprise 15% of total development cost; the balance will be provided as senior debt from HSBC and equity from the borrower. Beyond the Home Building Fund investment, there is no other public sector funding going in to the construction of the properties. Draw-down of the Home Building Fund investment will take place on a monthly basis, subject to independent verification of expenditure.

Reticulating Splines