MoU signed for US$508 million housing development PPP project in UK

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MoU signed for US$508 million housing development PPP project in UK

The West Midlands Combined Authority (WMCA) and Homes England have signed an agreement to formalize the West Midlands Strategic Place Partnership (SPP) to transform derelict brownfield land across the region in the UK.

The strengthened collaboration between WMCA and Homes England is a key component of the Deeper Devolution Deal, which was ratified by both the combined authority and the government in 2023. Under this agreement, an allocation of up to GBP 400 million (US$ 508 million) has been designated for Homes England and WMCA to invest in affordable housing initiatives throughout the region.

The SPP will see both entities commit to jointly addressing challenges related to the remediation of complex and stalled brownfield sites. The SPP framework exemplifies one of the strategies employed by Homes England to promote housing growth and urban renewal driven by local initiatives. Notably, nearly one-third of all new homes constructed with WMCA investments have been designated as affordable housing, positioning the West Midlands as the only region on course to achieve its target of 215,000 new homes by 2031.

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