ALMOST £10m of Government money will be ploughed into the regeneration of north Solihull.
Last Thursday, the Government Office for the West Midlands announced that the substantial amount of funding would be given to the North Solihull Partnership - the consortium behind the redevelopment project.
A total of £9.5m will be made available to pay for building projects - including the demolition of two tower blocks, building a new primary school and the acquisition of land for new housing.
Ian Austin, regional minister for the West Midlands, announced the package at a National Housing Federation conference. He said that the money would be provided by the Homes and Communities Agency - a Government body which invests in affordable housing for local people.
Explaining the reason to inject cash into the regeneration project, Mr Austin said: “It’s a great example of the way we’re determined to use public spending to maintain the momentum of housing construction through the current downturn.
“Times are really tough, and what people looking for a home, house builders and housing associations all need is a Government taking action and providing real help now.”
The injection of cash into the project, which will see 8,500 new homes built in the borough’s most deprived wards, is one of a series of measures announced last week. Politicians hope to restore confidence and stability to the housing market - which has been badly affected by the credit crunch.