Ministers have announced over 200 stalled building development schemes that will receive funding under the Get Britain Building fund.

Housing minister Grant Shapps announced that an additional £150M had been added to the funding scheme, which ministers say was tree-times oversubscribed after it was launched by the Homes and Communities Agency last year. 

Ministers hope the fund will result in the construction of 16,000 new homes.

The Get Britain Building investment fund provides development finance directly to building firms through recoverable investments, with the majority being commercial loans. The fund now totals £570 million, which ministers hope will result in the construction of 16,000 new homes and support over 30,000 construction jobs and the supply chain. 

The HCA has compiled a shortlist of the strongest bids from nearly 400 submissions, based on value for money, how quickly they will be delivered and the level of local support. The list includes:

• Marine Wharf, Lewisham - includes plans for 189 new homes
• Marmaville, Kirklees - includes plans for 65 homes
• Bromford Lane, Birmingham - includes plans for 42 homes
• Royal Mills Phase 2, Ancoats, Manchester - includes plans for 128 homes
• Finzels Reach, Bristol - includes plans for 204 homes

Ministers have already announced a shortlist of 18 difficult stalled sites for a share of the first £45 million of this funding to get them back on track and build 1,300 homes, which will help breathe life back into communities across the country. Some of these key projects are already on track to start building from April 2012.

‘Housebuilding is absolutely vital for delivering more growth in the economy, yet hundreds of shovel-ready housing developments have been put on ice, because builders lack funds to get work going on site,’ housing minister Grant Shapps said.

‘The £570 million Get Britain Building Fund will help end the deadlock by getting construction back on track for up to 16,000 homes across the country. Already some of our key sites are on track to get started next month, and many more of the 224 projects shortlisted today will be up and running from June, helping to cement our economic recovery.’