Liverpool to get £500m investment in homes and regeneration schemes
Almost £500m is to be invested in key regeneration projects in Liverpool over the next three years.
Liverpool council will tomorrow approve a £130m plan which involves the council giving away land to social landlords and providing a subsidy of up to £15,000 per unit to spark the construction of 2,000 houses.
Social landlords will pay for the building programme and half the homes will be for rent and half as affordable homes for sale.
The Labour-run council is also putting £3m into a scheme to provide deposits for first-time buyers for up to 20% of the value of a home. Full details are yet to be released.
And £2m is being invested repairing derelict homes and providing improvement loans.
An additional 500 homes will be built at the Stonebridge Cross site, off the East Lancs Road, as part of a separate £200m scheme.
The plan for the site, which was once occupied by the Gillmoss estate, also includes the possible relocation of St John Bosco College, a health centre, and a shopping precinct.
When the £130m school building programme, announced recently, is included, investment in the city’s neighbourhoods reaches almost £500m.
Liverpool council leader Joe Anderson said: “This is the biggest investment of this type we have seen for decades – a half a billion pounds over a period of three years.” He said it was hoped 2,000 jobs would be created in the construction industry via the schemes.
The Stonebridge Cross scheme will be delivered by a council “asset-backed vehicle” called InLiverpool.
The council will provide land, and a private sector partner will stump up the money to pay for the project.
The council hopes to re-invest profits from the partnership in improvements in Lime Street.
The council’s cabinet is expected to sign off both schemes tomorrow , and more details of the private sector investor will be announced after it is signed off.
Cllr Ann O’Byrne, cabinet member for housing, is chair of InLiverpool, which will develop the 98-acre Stonebridge Cross site.
She said: “Nowhere else in the country is doing this, it is really innovative.”
The council plans to submit a planning application in the new year, with a start on site next summer. The plan for 2,000 new homes will see them built on 20-plus brownfield sites across the city.
It is hoped work will start in spring next year, with a three year build programme.
When the £3m for first-time buyers, and the £2m for empty homes are included the bill reaches around £20m.
The council is borrowing and using property sales to pay for the scheme.
[Image: Stonebridge Cross Site Gillmoss]
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