According to Steve Coleby, Lovell managing director, this level of investment shows clear intent by Government to put housing and regeneration at the centre of its strategy, paving the way for high-quality, affordable homes located in areas that provide people with employment opportunities and creating wider economic mobility.
Steve Coleby comments: “There is no perfect solution to the UK housing crisis but today’s Budget announcement is the strongest indicator yet that Government is serious about addressing the housing shortfall in the UK. There’s no question, brownfield sites come with a set of unique construction challenges, but they also present a great opportunity to create communities in strategically important locations, maximising existing infrastructure and improving connectivity in towns and cities.
“Earlier this year the Government announced a £4.8billion Levelling-Up Fund to improve the nation’s infrastructure, including High Street regeneration and local transport projects and today’s announcement is the second instalment of this great initiative. These latest measures provide an opportunity to build on land that would otherwise be commercially unviable and are what the nation urgently needs.
“Delivering high-quality, affordable homes in partnership with like-minded organisations has been the cornerstone of Lovell’s strategy for five decades. This latest Government support means our strategy can be pursued over a wider scope of partnership opportunities nationally – ultimately resulting in more high quality housing, in more locations, improving the quality of more people’s lives. The only way we can overcome the housing crisis is to build more homes. This is a big step in the right direction.”