Money could revive housing scheme

A Rochdale housing project shelved because of the recession could be given more than £500,000 to help it get back on track.

The 50-home development proposed by Redrow Homes at Dale Mill/Churchgate, has been included on a shortlist of 265 projects which could share £550 million.

If the scheme is selected, Redrow will be given £553,917 in a bid to kickstart house building as the country emerges from the downturn.

Housing Minister John Healey said schemes must be able to be completed by March, 2012.

He said: “This second round of funding could build 22,400 homes, support 12,000 jobs, train as many as 1,000 apprentices and build a further 11,000 affordable homes.

“We are using the power of Government investment to build homes and support jobs at a time when the housebuilding industry needs it most.

“I’m making it a condition of getting this Government money that all builders offer recruitment of local people and apprenticeship schemes.

“This means opportunities for 1,000 extra apprentices.

“With this money we’re kick-starting stalled developments, supporting new jobs, training future generations of construction workers and building the quality homes we need.”

The Kickstart programme aims to help the housing market better weather the recession.

Mr Healey said he was not giving developers handouts and about two-thirds of the money will be in the form of loans and will have to be repaid within five years.