The housing infrastructure fund (HIF) — which was originally launched by Javid when he was secretary of state for communities and local government — has already allocated £1.3bn to deliver up to 76,500 homes.
The new finance will help to fund five projects in London, central Bedfordshire and Essex.
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“I want to see more homes built in the places people want to live, so more people realise the dream of home ownership,” said Javid.
“But we need the roads, rail links and schools to support the families living in those homes, which is why I set up a fund to put in place the infrastructure to unlock new homes in these areas.”
Robert Jenrick MP, housing secretary, added: “I am determined to help people make the dream of home ownership a reality and this investment of over half a billion will unlock thousands of new homes by providing essential infrastructure.”