HCA aims funding at smaller projects

The minimum number of units has been reduced from 25 to 15 for a development to qualify for the latest round of Get Britain Building Fund bidding, which opened this week.

The Homes & Communities Agency is releasing at least £100m for the second round of the £570m fund which is aimed overall at delivering 15,000 new homes from previously stalled schemes.

The HCA said second round funding became available after the withdrawal of schemes from the first round.

The main changes from the round one bidding process are:

• The minimum site size has been reduced to 15 homes
• Only loans and equity-risk sharing investment products are available
• Work must start on site by 31 March 2013, and all homes complete by 31 March 2015

Expressions of interest must be received by noon on 25 July 2012.

For further details check http://www.homesandcommunities.co.uk/get-britain-building