Stewart Jackson – 2015 Parliamentary Question to the Department for Communities and Local Government

The below Parliamentary question was asked by Stewart Jackson on 2015-10-20.

To ask the Secretary of State for Communities and Local Government, what assessment he has made of the performance of Build to Rent projects; and if he will make a statement.

Brandon Lewis

The Build to Rent fund provides development finance to support the creation of a purpose-built private rented sector, backed by institutional private investment. The fund is market-led and the response has been strong.

As at the end of September, there were 15 schemes in contract with the Homes and Communities Agency, representing £455 million of investment from the Build to Rent Fund, and which are expected to deliver over 4,000 housing units. In addition, a further 8 schemes seeking up to £378 million of investment have been shortlisted and are undergoing their approval process, potentially delivering up to an additional 2,950 housing units.

As at the end of September, a total of 13 schemes – representing 2,631 housing units – receiving finance through the Build to Rent fund had started on site.