Launched in 2016, by Greater Birmingham and Solihull Local Enterprise Partnership (GBSLEP), the Unlocking Stalled Housing Sites Programme was setup to unlock stalled housing projects and increase the housing population within the Greater Birmingham, Solihull, South Staffordshire and North Worcestershire areas. The provision of quality housing is essential to the continued economic growth of the region.
The £9m Fund is managed by Finance Birmingham, offering support through grants, loans and equity funding. The Programme was set up to accelerate the delivery of housing sites where, for various reasons, development had stalled and intervention was needed to bring it forward.
Key Features
- Available for developments within the GBSLEP area.
- Funding can be used to finance Developer viability or a funding gap.
- Supports stalled housing sites to bring development forward.
- Intended to support mixed tenure projects, which comprise open market sale homes and affordable homes.
Eligibility
- Housing scheme must be located with the GBSLEP.
- Investment for new build properties and conversions only, excluding the conversion for multiple occupation and student housing supply.
- Projects should target to deliver between 10 and 100 residential units. Phases of a larger package of sites may also be considered.
- Must be State Aid and Anti-Money Laundering compliant.
- Applications must come from either; a land owner, a developer, a Registered Provider or a Local Authority.
- All applicants must demonstrate a proven track record of delivery and the technical and financial capacity to deliver their completed scheme in accordance with their proposal submission.
- Applications from joint venture arrangements will be considered if there are clear accountability, security and delivery arrangements.
- Section 106-specific residential units will only be considered to be eligible in exceptional circumstances.
- Eligibility criteria, terms and fees will apply.
Expressions of interest for capital finance for scheme delivery must also meet the additional criteria:
- Schemes must demonstrate that they are capable of being fully funded by a retail bank, other lending institution or equity funder.
- Applications should be based on a clear investment proposal and demonstrate a robust delivery plan.
- Schemes should be ready for construction to start on site within nine months from the date of a formal offer letter of funding from this programme.
- Outline Planning Consent in place (preference given to some or all of the Reserved Matters and pre-start Conditions being discharged).
Application Process
Applicants wishing to apply should fill electronically an “Expression of Interest” form and a "State Aid Assessment" Form; both can be downloaded below. Completed forms, along with a letter from the relevant Local Authority setting out the status of any planning applications and that it supports the scheme subject to an appropriate Planning Application, should then be sent to Andygreen@FinanceBirmingham.com.
Unlocking Stalled Housing Sites Expression of Interest (EOI) form.doc
State Aid Assessment Form.doc
Once an EOI form has been submitted, a member of the Finance Birmingham property team will review the information and will contact you regarding the next steps of the application process.
For more information about the Unlocking Housing
Fund or to enquire about the application
process call Andy Green in our office on
0121 233 4903 or email Andygreen@FinanceBirmingham.com
Unlocking Stalled Housing Prospectus.pdf
