Money forms part of £2bn AHP top up announced at spending review
Vistry has announced it has secured a £50m additional grant award from Homes England.
The grant is part of the £2bn injection of funding to top up the 2021-2026 Affordable Homes Programme (AHP), announced by Rachel Reeves in March as part of the spending review.
In a statement to the market, the housebuilding giant said it had already commenced with the allocation of the money to support delivery of several affordable housing schemes this year.
It said that its total funding from the AHP has now reached £252m, enabling the delivery of more than 3,500 additional affordable homes across the country.
Chief executive Greg Fitzgerald said: “This significant investment underlines the Group’s ongoing commitment to deliver high-quality, sustainable homes, supports the Government’s ambitions to increase housing supply at pace and demonstrates our successful track record of delivery for Homes England”.
The government is currently working on developing a successor to the AHP, which it also announced in the spending review.
The chancellor has committed to investing £39bn over the next ten years through the new Social and Affordable Homes Programme.
At least 60% of the homes are expected to be for social rent.
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