£140 million to be spent on regenerating housing estates in the UK

It has been announced that some of the UK’s most rundown housing estates will be replaced with attractive and safe homes with a new fund for regeneration projects.

Described as a ‘comprehensive approach to estate regeneration’, David Cameron has released details of the creation of a new £140 million fund.

By working with 100 housing estates country wide, the estates will either be radically transformed or knocked down and replaced with new, quality homes.

It was clear that behind the front doors of these homes was not the problem but, as Cameron explained, “Step outside in the worst estates and you’re confronted by brutal high rise towers and dark alleyways that are a gift to criminals.”

The aim is to provide thriving communities and places for people to enjoy living and working in and to help tackle the problem, the strategy will be supported by a new Estate Regeneration Advisory Panel, which will be chaired by Lord Heseltine, the former Deputy Prime Minister who has long championed the regeneration of Britain’s inner cities. The Panel will report in detail by this year’s Autumn Statement.

Steve Povall, Managing Director of Residential Estates said that “housing estates need to be integrated into society through transport links and repairing the streetscape and this is what will make the difference.”

The British Property Federation (BPF) welcomed proposals and praised the Government for ensuring that binding guarantees will be put in place for tenants and homeowners, to ensure that that their right to a home is protected.

‘There are some very old council estates that are in need of regeneration, but that process must treat existing residents fairly,’ said Ian Fletcher, director of policy for real estate at the BPF.

‘Communities need not only homes, but jobs, schools and green spaces and other leisure opportunities to create places people want to live in. If the Government gets this right it could be some of the best use of £140 million it has ever spent,’ he added.