A total of 40 modular homes are set to be built in Birmingham after Homes England agreed on a £7.45m loan from the government's Home Building Fund for new development by Urban Splash and Places for People.
The joint venture will build the first of 1,150 homes at Port Loop on the edge of Birmingham City Centre. While 40 of the homes will be factory built, another 37 will be traditionally constructed on a large brownfield site.
Phase one of the development will include a new park, improved canal towpath. The homes will be built around shared gardens.
Urban Splash and Places for People are working in partnership with the original landowners, Birmingham City Council and Canal & Rivers Trust.
Adam Willetts, speaking on behalf of the partnership, said: "Port Loop is one of the most exciting regeneration developments in the country and we are delighted to be delivering the first of many homes there. We are also on site creating new public realm space in the form of a one-acre park, as well as progressing our plans for the broader area. We are delighted to receive the support of Homes England for our plans."
Communities secretary, James Brokenshire, said: "Birmingham's Port Loop is a great example of how our £4.5bn Home Building Fund is helping to meet the triple challenge of delivering more, better, faster home construction, as well as revving a strong and prosperous Midlands Engine."
