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Regeneration projects
Our approach and achievements! In partnership with residents and local authorities we are developing new approaches for turning unpopular estates into sustainable communities. In the first five years of our West Berkshire estate renewal programme we have successfully demolished 194 hard-to-let properties and built 168 new family homes in their place, at a total cost of £15M. We have secured £7.1M in social housing grant funding towards this programme, which has also generated capital receipts of £2.4M that we can reinvest in future redevelopment projects. We are the chosen regeneration partner for the two `New Deal for Communities` areas in the south-west, at Barton Hill in Bristol and Devonport Urban Village in Plymouth. These are major urban renewal schemes that, over 5 years, will produce 250 new affordable homes including properties for sub-market rent and sale. Access to the new homes will be governed by Local Lettings Plans negotiated with the local authorities and designed to give priority to rehousing local people. We are also investing in the local residents futures by enabling them to access opportunities for training and employment related to the construction programme, and providing funding for community led activities as part of our commitment to meeting the In Business for Neighbourhoods agenda. As well as our bricks and mortar projects we are putting more emphasis on creating more sustainable communities by supporting local neighbourhood renewal initiatives. Key amongst these are the Neighbourhood Warden schemes which Sovereign operates in West Berkshire. |
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