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16/09/2019

WMCA to launch funding guide for developers

Brownfield land in Goscote Lane

The West Midlands Combined Authority (WMCA) has launched a guide so that developers can receive clear guidance on how to secure funding for homes and regeneration schemes.

The guide, entitled Building the Future, aims to make the process of securing finance clearer and easier for the WMCA when working with developers to find ways for their schemes to support the authority’s key economic and social goals.

These include tackling youth and long-term unemployment, securing affordable housing, maximising public transport connectivity and supporting advanced methods of construction.

The Mayor of the West Midlands, Andy Street, launched the document on Tuesday 17 September at the Forum for Growth conference at Resorts World, Birmingham.

The forum will discuss the continuing work to breathe new life into hundreds of acres of derelict brownfield industrial land.

Street said: “The funding we have set aside to help developers get schemes off the ground is already creating hundreds of new jobs and homes – and this guide is aimed at making the funding process as quick and as easy as possible for those developers who share our vision of growing our economy in a way that benefits all our communities.

“Not only will we be benefiting local people with local schemes, but the quicker we can build quality new homes and commercial premises, then the more likely we are to see the West Midlands economy continue to grow faster than anywhere outside of London.”

One of the biggest tasks the region faces is the need to build 215,000 new homes by 2031 to meet future housing and economic demand. It also needs to find sites for an extra 20,000 new businesses expected to be operating by the early 2030s.

The authority has introduced a brownfield-first policy whereby new developments are built on brownfield land wherever possible to relieve pressure on the green belt.

Pictured: L-R; Rob Braid, CEO St Francis Group; Steve Holland, senior specialist, Homes England; Andy Street; Ninder Johal, BCLEP; Cllr Adrian Andrew, Walsall Council cabinet member for regeneration

Image credit | WMCA 

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