At midnight the Government announced a £4m funding boost for three housing projects in Paignton.
The funding comes from the Government’s £45m Land Release Fund which aims to ensure local councils release some of their unused or surplus land for housing. It is interesting to note 9% of this national budget has been allocated to schemes in Paignton. You can read more about the fund on the Government website by clicking here.
Councils could bid for funding to deliver land remediation and small-scale infrastructure, which will help bring sites forward for housing which would not have otherwise been developed. The successful bids submitted by Torbay Council for three projects in Paignton were Victoria Square (£900,000), Preston Down Road (£1,100,000) and Collaton St Mary (£1,976,000).
I look forward to hearing the details of how Torbay Council will use this funding to unlock sites in Paignton and deliver regeneration in the heart of Paignton Town Centre through the project for Victoria Square.