Housing Development Plan Awarded Growing Places Fund Finance
27th August, 2013
The Cheshire and Warrington Local Enterprise Partnership (LEP) has awarded £235,000 to Square One Homes, an affordable housing company, as the first investment from its £13m Growing Places Fund.
Kingfisher Square, Warrington, is to have 12 housing units built by Square One Homes, in a project totalling £722,000. The project will provide affordable housing for first time buyers and key workers in the area.
Christine Gaskell, Chair of the Cheshire and Warrington LEP said, “The Growing Places Fund provides essential enabling infrastructure and we are pleased to announce the allocation of funds to bring forward residential development opportunities and unlock stalled developments.”
Louise Morrissey, Chair of the Growing Places Fund, said, “This type of project is what the Growing Places Fund is for, making it quicker for projects to get off the ground but also securing a return on that investment for the local area.”
Mick Dowse, Director of Square One Homes, said, “This development offers a new exciting and uniquely innovative development of 12 purposely-designed homes to meet the needs of both first time buyers and key workers in Warrington.”
The objectives of the Fund are to generate economic activity in the short term by addressing immediate infrastructure and site constraints and promote the delivery of jobs and housing. It will allow LEPs to prioritise the infrastructure they need thereby empowering them to deliver their economic strategies and establish sustainable revolving funds so that funding can be reinvested to unlock further development and leverage private sector funding.
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