The Government has announced today that Leicester City Council will be given £10 million of funding for highway infrastructure enabling further investment in a new housing development.
Chancellor of the Exchequer, Philip Hammond and Secretary of State for Communities and Local Government, Sajid Javid met with Leicester’s City Mayor, Sir Peter Soulsby at the site of the new development, Ashton Green, where they made the announcement.
Leicester is one of 133 council-led projects across the country to successfully bid for a share of the Housing Infrastructure Fund, which aims to get new homes built more quickly. Funding is awarded to local authorities on a highly competitive basis.
Chancellor of the Exchequer Phillip Hammond said: “This fund finances vital infrastructure such as roads, schools and bridges, which will kick-start housing development in some of Britain’s highest-demand areas.”
Leicester City Mayor Sir Peter Soulsby said: “I am delighted that our bid for £10 million has been successful. This funding will unlock 60 acres of development land and the building of more than 3,000 new homes and is excellent news for Leicester.
“Off the back of this funding we will see developers of the next parcels of land invest an additional £150 million over the next five years.”
“Ashton Green will make a significant contribution to the 30,000 new homes needed in the city over the next ten to 15 years and will contribute greatly to the economic growth of the city.”
The council has already invested more than £2 million in the initial infrastructure to kick-start the Ashton Green development, with the first occupants of more than 100 new homes due to move in over the coming weeks.
Up to 30% of the new homes to be built at Ashton Green will be affordable homes for rent and for shared ownership.
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