25 Jul 2013, 3:49 pm
Housing Minister Mark Prisk said that the Government is "determined to build a bigger and better private rented sector that gives tenants a wide choice of good quality homes".
Once the 102 homes for private rent are completed Crest Nicholson, which has been developing the Centenary Quay site since 2009, will sell them to A2 Dominion Group to let and manage them as landlord.
"Centenary Quay is an extremely important and exciting project. We have already seen success in the first phase of the project and the next phase will see hundreds more houses being built, transforming a former redundant shipyard into somewhere people want to live and work." said Andy Rose, Chief Executive of the Homes and Communities Agency (HCA), which is managing the fund.
As well as funding the creation of the 102 homes for private rent, the Government is spending £2m to deliver 72 affordable homes, in addition to a £1.96 million investment of Get Britain Building funding, to support the creation of a further 56 homes.
