As part of a new blueprint for regenerating deprived housing estates, an additional £32 million of new funding is now available, along with £140 million from the estate regeneration fund. Councils, housing associations and developers can now bid for a share of £172 million of government investment to transform local neighbourhoods and deliver high-quality housing. In addition, they will also get advice on transforming areas from a new ‘national strategy’ to address common challenges that can stop projects, such as resident protection concerns or finding the necessary finance. The additional £32 million will be made available as grant funding and will include £2 million to help build commercial skills capacity in local authorities to deliver estate regeneration.
This funding is available exclusively to local authorities and will be awarded to applicants with clearly demonstrable commercial skills gaps or lack of staff with previous regeneration experience.