The funding — delivered via the local authority accelerated construction programme — will enable the construction of the homes on three sites in Welwyn Garden City and Hatfield, South Hertfordshire.
This finance is the first to be agreed through the government’s £450m accelerated construction programme.
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Construction is due to commence on the first site at Hatfield town centre in June, with each development including a target of 30% affordable housing.
Stephen Kinsella, executive director for land at Homes England, said that he was delighted to see this first accelerated construction grant agreement being signed.
“The funding will enable Welwyn Hatfield Borough Council to develop [its] ambitious proposals for these three sites and will help to deliver much-needed new homes for local people.”