Plans to invest more than £10 million to facilitate the creation of over 800 new residences in the South Bank of Leeds were given the green light on September 7th by members of the West Yorkshire Combined Authority.
The initiative, put forth by the Mayor of West Yorkshire, Tracy Brabin, entails the construction of 864 new homes spread across three distinct locations, forming a crucial part of the drive to accelerate urban renewal.
With the aim of making Leeds City Centre accessible to a broader populace, occupants will enjoy the advantages of low-carbon amenities that reduce energy expenses. This could encompass energy-efficient lighting, electric vehicle charging stations, secure facilities for bicycles, and solar panels.
The funding, secured by the Mayor, constitutes a portion of the broader £89 million Brownfield Housing Fund devolved to the region by the Government. These recent funding endorsements will aid in realising the Mayor’s commitment, as outlined in her manifesto, to construct thousands of new, reasonably priced, and environmentally sustainable homes.
Tracy Brabin, Mayor of West Yorkshire, said; “Growing up in a two-bed council flat, I learnt the importance of having a safe and secure place to call home from a young age.
“We want everyone in West Yorkshire to have that same opportunity, and regenerating Leeds’ South Bank will help achieve that.
“Today’s approval of hundreds of new homes is an exciting milestone in our important work to create a more vibrant region that works for all.”
The Mayor has also corresponded with the Levelling Up Secretary, Michael Gove, imploring him to grant greater local autonomy in the development of brownfield land across the entirety of West Yorkshire.
Presently, a rule from the Government permits housing ventures to proceed only in areas where land values are comparatively high, as each new project must demonstrate financial gains that surpass the costs incurred.
Consequently, it proves challenging for regional leaders to support housing ventures in regions where land values are relatively modest – precisely where rejuvenation is most warranted.
A proposed alteration to this rule, advocated by the Mayor, would evaluate the overall financial benefit of numerous sites as a whole, rather than considering each site in isolation, thereby expanding residential construction projects throughout West Yorkshire.