A major investment is aiming to support delivery of thousands of new homes – attracting further private sector investment and boosting West Yorkshire’s economy.
The £334m West Yorkshire Housing Investment Fund will unlock land for development and support stalled schemes across the region.
The proposal was approved at the first West Yorkshire Combined Authority meeting since the May local elections, which saw new leaders join the Combined Authority.
The programme will look to invest in regeneration projects across West Yorkshire, including Leeds South Bank, which has the potential to deliver around 20,000 homes, support the delivery of homes at Bradford Southern Gateway, the new garden communities that could unlock 3,000 homes in Calderdale and a further 3,000 homes in Kirklees, as well as 1,000 homes at Cathedral Quarter in Wakefield.
The fund is intended to maximise opportunities created through the region’s first Integrated Settlement by bringing funding together into a single, flexible programme to boost housing delivery.
It is designed to attract further investment and ensure funding is delivered in a more joined-up way for communities.
It aims to build on the devolved £110m Brownfield Housing Fund, which is set to deliver 6,000 new homes – with almost 30 per cent being affordable.
Tracy Brabin, Mayor of West Yorkshire, said: “We have bold ambitions to deliver thousands of new, affordable homes across West Yorkshire that our communities urgently need.
“This investment will build on the region’s housebuilding success, strengthening our delivery pipeline, creating jobs and supporting thriving communities.”
She added that thousands of new homes could be unlocked through the West Yorkshire Housing Investment Fund programme, in line with targets set under the Integrated Settlement, but this does not reflect the full extent of the Combined Authority’s housing ambitions.
The programme will prioritise brownfield and grey belt sites but is not limited to previously developed land.
It is expected to complement a £1bn investment from Homes England to deliver more social homes across the region, supporting the Mayor’s pledge to deliver over 5,000 affordable homes.
