Funding boost for Stonewater

Funding boost for Stonewater

£10.6m funding boost for Stonewater affordable homebuilding programme.

Leading social and affordable housing provider Stonewater’s homebuilding plans have received a £10.6 million funding boost from the Homes and Communities Agency (HCA).

Following its successful bid to the HCA, Stonewater will use the money – allocated this week through the Shared Ownership and Affordable Homes Programme 2016 to 2021 – to build 422 grant funded new homes. They will comprise 274 Help to Buy: shared ownership homes; 133 Rent to Buy properties and 15 specialised rental homes for vulnerable people. The new properties will be constructed across Stonewater’s operating areas including new homes in Bedfordshire, Dorset, Somerset, Sussex, Warwickshire, Wiltshire and Worcestershire.

“This major HCA grant allocation will enable us to deliver a significant number of new affordable homes for the people who desperately need them and we’re delighted that we can now start work,” says Jonathan Layzell, Stonewater Executive Director of Development.  “The successful funding bid reflects our ability to provide new homes through a variety of tenures in the areas where they are most needed and help those currently locked out of the market.”

“At the same time, we welcome the Government’s focus on widening the ways available for people unable to access the housing market to become home owners.

“The funding bid forms part of our overall development programme which will see us invest nearly £400 million in creating new affordable homes, available through a range of tenures, over the next five years. For Stonewater, this additional money will bring about an expansion of our shared ownership housebuilding programme which is successfully bringing low-cost home ownership within reach of those unable to buy on the open market.”

Image: £10.6m funding boost for Stonewater affordable homebuilding programme

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