£165m fund revives stalled housing and job projects across England

A new £165 million fund has been launched to kickstart stalled housing and employment projects across England. The Growth and Housing Accelerator Fund will focus on developments delayed by funding shortages, with applications opening in the coming weeks.

Secretary of State Heidi Alexander said the scheme would 'pave the way for developments that have sat idle for too long' by improving transport links to unlock new homes and jobs. The fund is part of Road Investment Strategy 3 (RIS3), a £27 billion programme for England's motorways and major A-roads between 2026 and 2031. Within this, a record £8.4 billion has been allocated to renew and resurface over 9,000 kilometres of key routes.

Priority will go to sites near motorways and A-roads, particularly in areas that have struggled to secure funding in the past. National Highways Executive Director Elliot Shaw explained that the fund would 'help unlock the transport links needed for new homes and jobs'. The government aims to deliver 1.5 million new homes during this Parliament, with the accelerator fund playing a key role in reaching that target.

Projects that have stalled due to financial barriers will be the main focus. By addressing transport bottlenecks, the fund seeks to remove obstacles that have held back housing and employment growth in critical locations. The Growth and Housing Accelerator Fund will open for bids shortly, offering a lifeline to long-delayed developments. Improved road connections are expected to enable thousands of new homes and jobs in areas previously held back by funding gaps. The initiative forms one part of a wider £27 billion investment in England's major routes over the next five years.