Nearly 500 new homes to be built under Government’s Build to Rent scheme

A housing association will build 485 homes for private rent across 4 sites in London and Chelmsford, as part of the Government’s £1 billion Build to Rent scheme, an official statement by Housing Minister Kris Hopkins has revealed.

Genesis Housing Association will receive £45.5 million to build the new 1, 2, and 3-bedroom properties.

The Build to Rent fund is designed to help developers build quality homes specifically for the private rented sector. The scheme announced today is the fourth deal under this scheme and the largest to date.

The scheme will apply to 244 new homes at the former Anglia Ruskin University site in Chelmsford, which will include 130 1-bedroom and 113 2-bedroom properties, as well as 196 homes at Grahame Park, Barnet (including 22 three-bedroom properties), 25 homes at Madeley Road, Ealing and 20 homes at Springboard House, Newham.

Housing Minister Kris Hopkins said:

“With millions looking to live in and around London, there is a real demand for good quality homes available to rent on flexible terms.

Today’s Build to Rent deal is our fourth and the largest to date. It will deliver nearly 500 homes on sites across the capital and in Chelmsford, offering greater choice for tenants. And with more sites being considered as part of this £1 billion scheme, we’re looking to get even more homes built specifically for rent across the country.”

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