Bristol housing scheme back in business with £12m government cash
Published: 22 January, 2013
Builders are to return to Bristol Harbourside to start 200 houses following £12m funding from the Government's Get Britain Building programme.
The Homes and Communities Agency released the cash to unlock the vital first phase of the Wapping Wharf project. It marks the biggest commitment of Get Britain Building funding so far in stalled housing projects.
Sutton Coldfield developer Umberslade can now start work in March, with completion of the first phase expected in 2015. The overall project includes 625 flats, a hotel, shops an offices. The development had stalled over the last five years due to a lack of finance.
Umberslade managing director Stuart Hatton said: "This investment has played a significant part in helping unlock the continued development of what has been a huge success story for Bristol over the last 25 years.
"We see this as a vote of confidence in what we are working to achieve and we're focused on ensuring that this investment makes a positive difference to the city centre."
Get Britain Building is to bring forward sites with planning permission to build 15 000 houses. The programme makes loans available to projects on commercial rates, or take equity stakes to share risk. The investment is recoverable over a two to five-year period.
Other partners involved in the project include Sovereign Housing Group and Knightstone Housing Association, who will manage 81 of the rented apartments once they are built.