Walsall gives £770,000 boost to kick start stalled schemes

Walsall Council's New Homes Bonus (NHB) scheme awarded loans and grants to four different construction companies on five sites, which together have a combined value of £20 million.

Under the scheme the money was awarded to housing development projects which had stalled as result of the recent economic downturn. Each project had either already started and then stalled, or had never started following the grant of planning permission.

The funding is aimed at promoting investment and creating jobs. "Around 300 people could be working on the construction schemes," said Adrian Andrew, council deputy leader and cabinet member for regeneration. "A further 80 jobs will be created in the care and support sector through the development of these sites."

Midland Properties has been awarded £245,000 in loans for two of its schemes in Bloxwich. The first scheme would help to resume construction at the former Field Road industrial estate to create 18 homes for sale and rent, and the second would help to build 11 homes for rent at the former Chamberlain & Hill site in Reeves Street.

Stanley Developments has been awarded a £175,000 grant to restart building work on 85 private and affordable extra care homes for elderly people for rent or sale in Bentley.

The Walsall Waterfront project is set to be restarted, as developer Jessup Brothers were granted £175,000 to resume work on the site. The proposed Waterfront development project would include 82 private and affordable flats.

BT Felton and Sons have also been awarded a £175,000 loan, which would help to deliver 12 homes for private sale in Romney Way in Great Barr. 

The funding that has been provided in the form of a loan will be re-used on repayment of the loan, the Council said. The money will be reinvested in further schemes to help create jobs and homes.