Poole will receive £6M in funding from Central Government as part of the Housing Infrastructure Fund (HIF).
The funding will be used as a contribution towards Borough of Poole’s £134M scheme to regenerate part of the Town Centre, which will include a new leisure centre, swimming pool, bus station, hotel, commercial office space and 400 homes.
The HIF is a £2.3B fund that could unlock 100,000 new homes in areas of high demand, such as in Poole. Launched by the Communities Secretary, Rt Hon. Sajid Javid MP in July 2017, the investment will help to fund essential infrastructure that is holding back construction of new homes to tackle our housing crisis.
News of the additional funding has come as welcome news to residents and Councillors who are hailing this as a further commitment by Borough of Poole (BoP) Council to realise the town’s sustainable future. Importantly, the £6M funding for Borough of Poole is part of an overall £16.6M split between Poole, East Dorset and North Dorset local authorities.
Investment into Poole continues to bolster the town’s long-term sustainability making new large-scale developments, such as proposals for Canford Park, viable and also necessary for the future success of the area. Vitally, this type of Government funding will encourage the delivery of new homes and will mean current and future generations in Poole and Dorset are closer to realising the dream of buying their own home.