£30 million Homes England investment for Sunderland

£30 million of funding from Homes England has been announced to transform Sunderland's former industrial heartland into a new urban quarter.

Sunderland City Council and Homes England have agreed a funding package that will help accelerate the ongoing transformation at Riverside Sunderland. The council will be providing £49.94 million. The total infrastructure investment will be almost £80 million.

The regeneration will create around 1,000 new homes, new community infrastructure and 1million square ft of employment space, which is essential to the Council’s social and economic growth strategy.

Councillor Michael Mordey, leader of Sunderland City Council, said: "Sunderland is growing its reputation as one of the most ambitious and innovative local authorities in the country, leveraging public and private sector investment to deliver a world-class place to live, work and play.

"Securing investment on this scale is only possible because we commit and then deliver – time and time again – and this is a fantastic vote of confidence in our plans for a dynamic, vibrant new urban residential district.  We’re proud to be leading this from the front."

Homes England chief executive Peter Denton said: "Riverside Sunderland embodies how it’s possible to breathe new life into a place of huge historical significance for the area, and I’m very happy the Agency can support what is a strong, locally-led vision to become a reality.

"It’s our job and privilege to help put these plans into action by providing funding and wider expertise, working hand in glove with local leaders to create a sustainable, high-quality place that really works for people."