Devolved £500m fund and a dedicated minister for regeneration among recommendations of Renew inquiry into regeneration
Housing-led regeneration could unlock more than 500,000 homes in the North of England with the right support, according to the interim report of the Northern Housing Consortium’s Renew inquiry.
The inquiry, chaired by Lord Richard Best and backed by Homes for the North and developer Muse, outlines several ideas to boost regeneration.
It calls for a new, £500m, 10-year, place-based regeneration fund, devolved to mayoral strategic authorities as part of their integrated settlements. It says 20% of the fund should be able to be converted to revenue spending and used for pre-development work, resident engagement and post intervention stewardship.
It calls for a dedicated regeneration finance facility delivered via Homes England’s National Housing Bank which includes a specific appraisal framework that ‘captures the full social and economic case for regeneration’.
The report also makes the case for a dedicated minister for regeneration and for a new National Centre for Regeneration based in the north “to rebuild capacity across the sector and lead research and innovation”.
It said an “agreed set of expectations, standards and rights for regeneration schemes” should be agreed with the sector and tenants.
The interim report said its measures together could accelerate 100,000 homes through densification of town centres, unlock 320,000 homes on brownfield land and lead to 100,000 homes being improved.
It said: “The right framework, combining a dedicated grant programme, a regeneration finance facility through the National Housing Bank, a genuinely long-term infrastructure and enabling fund and strengthened community regeneration funding would unlock hundreds of thousands of new homes across the North, while freeing providers to build more of the social and affordable housing the North desperately needs and transforming communities in need of investment.”
Regen Connect
Regional regeneration is transforming communities across the UK - and Regen Connect is our new editorial series, running across Building, Housing Today and Building Design, giving you the insight you need to stay ahead.
Led by the Building the Future Think Tank, our year‑long editorial programme explores how investment in infrastructure, housing and placemaking is shaping the future of our regions.
Through ongoing analysis and expert commentary, we highlight the policies, funding streams and local priorities that matter most to the construction and development sector.
Regen Connect offers clear, practical intelligence on where regeneration activity is happening and why. We track how mayoral funds, government programmes and local authority strategies are influencing development pipelines, and we spotlight the organisations - from clients to consultants to supply chain partners - that are driving progress on the ground.
What we cover:
- Funding priorities: How money is being allocated and the impact on upcoming projects.
- Regional opportunities: Local challenges, strategic ambitions and how industry is responding.
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Throughout the year, our team will be gathering insight from across the sector to inform editorial features, debates and events. We welcome contributions from practitioners who want to share experience or shine a light on emerging trends.
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