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07/10/2003
£125m earmarked to revitalise housing in north west
Around 15,000 households are set to benefit from a £125 million grant to revitalise communities in Manchester and Salford.
The money will help to refurbish or repair 13,400 homes, build 1,000 modern family homes for local residents and clear 1,700 redundant properties over the next 10 to 15 years.
The scheme is the first of nine pathfinder projects to secure long term funding from the government's £500 million housing market renewal fund. The money has been made available to help tackle collapsing demand in parts of the North and Midlands - areas that have falling property values, and so leaving many owners in negative equity and a poor living environment.
Deputy Prime Minister John Prescott said the investment in Manchester and Salford was designed to "break the cycle of deprivation and breathe life into the local communities that for too long have suffered from the blight of low demand".
The government's investment will be complemented by funds from other programmes and the private sector so that other vital issues like jobs, education and crime reduction can be tackled alongside housing.
The nine pathfinder areas are: Birmingham and Sandwell; East Lancashire; Humberside; Manchester and Salford; Merseyside; Newcastle and Gateshead; North Staffordshire; Oldham and Rochdale; and South Yorkshire.
(gmcg)
The money will help to refurbish or repair 13,400 homes, build 1,000 modern family homes for local residents and clear 1,700 redundant properties over the next 10 to 15 years.
The scheme is the first of nine pathfinder projects to secure long term funding from the government's £500 million housing market renewal fund. The money has been made available to help tackle collapsing demand in parts of the North and Midlands - areas that have falling property values, and so leaving many owners in negative equity and a poor living environment.
Deputy Prime Minister John Prescott said the investment in Manchester and Salford was designed to "break the cycle of deprivation and breathe life into the local communities that for too long have suffered from the blight of low demand".
The government's investment will be complemented by funds from other programmes and the private sector so that other vital issues like jobs, education and crime reduction can be tackled alongside housing.
The nine pathfinder areas are: Birmingham and Sandwell; East Lancashire; Humberside; Manchester and Salford; Merseyside; Newcastle and Gateshead; North Staffordshire; Oldham and Rochdale; and South Yorkshire.
(gmcg)
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