Posted 04.04.14
Housing Minister Kris Hopkins confirmed a deal that will get nearly 500 homes built specifically for private rent.
This is the fourth deal under the Government's £1 billion Build to Rent scheme and the largest to date. Overall, the scheme will see work underway on 10,000 new homes for private rent by 2015.
Under the terms of the deal, Genesis Housing Association will receive £45.5 million to build 485 homes for private rent across 4 sites in London and Chelmsford. The homes will be a mix of 1, 2, and 3-bedroom properties.
The Build to Rent scheme is designed to help developers build quality homes specifically for the private rented sector. Construction is already underway on two Round 1 projects in Southampton and Manchester, and recently a third deal was signed, which will lead to 190 homes for private rent across 6 different sites.
