A new guide for investors and developers shows what developers need to do to win funding to kick-start stalled developments in the West Midlands region. The funding targets development schemes that have stalled as a result of issues such as high brownfield clean-up costs.
“Building the Future” has been produced by the West Midlands Combined Authority (WMCA) and seeks to simply the process of accessing funds. This involves the WMCA working with developers to ensure that schemes support the authority’s “key economic and social goals”.
These include tackling youth and long-term unemployment, maximising public transport connectivity, securing affordable housing, supporting advanced methods of construction, brownfield regeneration and attracting investment and jobs into the region.
Andy Street, the Mayor of the West Midlands, suggested that the guide would be a positive step forward for construction across the region, that would not only benefit local people with local schemes, but would also allow the area's economy continue to grow rapidly.
Tom Stainthorpe, Regional Land Manager – LSL Land & New Homes commented that:
"It’s great to see such a positive move by the WMCA to support the funding with clear and concise guidelines, an area in which that can be notoriously difficult for developers.
We hope to see other local authorities follow suit and provide support to unlock stalled or difficult sites in turn providing economic growth, employment opportunities and much needed new housing ".
The guide can be accessed via: https://www.wmca.org.uk/media/3428/scfihlpd_leaflet.pdf
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