Housing Minister Mark Prisk has announced £40.9 million investment towards affordable housing in the North East, Yorkshire and the Humber that will create new jobs.
This funding will provide 2,222 new affordable homes in the area for a combination of affordable rent and affordable home ownership.
According to the Homes and Community Agency (HCA), significant number of the new homes will be completed by the end of March 2015, paving the way for new employment in the trades.
The announced funding is part of the expanded national £450 million Affordable Homes Guarantees Programme, which will be supported by the £3.5 billion Affordable Homes Government debt guarantee to deliver thousands of new homes.
David Curtis, Executive Director for the North East, Yorkshire and The Humber at the HCA, said: “The confirmation of this funding is great news for local residents, as it will ensure that there is a choice of housing for people where they want to live in homes that they can afford, making a real difference to the local community.”
Housing Minister Mark Prisk said: “I am pleased to announce the first wave of allocations through this programme with £220 million Government funding to help deliver over 14,000 new homes.
“Today’s funding allocations will enable organisations across the country to hit the ground running, and play their vital role in getting Britain building and delivering the homes and jobs this country needs.”