The Estate Regeneration Fund investment will be distributed to local authorities and housing associations to speed up housebuilding.
Overall, 105 estates will benefit from the funding, to be used to speed up regeneration schemes in their early stages. It will also help address problems that hold up projects and give local authorities access to skills to ensure high-quality regeneration.
In addition, a £140m loan fund is available over the length of this Parliament to encourage investment in regeneration from the private sector to help build places that work for everyone.
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In Birmingham, the Estate Regeneration Fund will be used to start discussions with local communities and ensure the Meadway regeneration creates a place local residents are proud of, while in Milton Keynes it will be used to kick start the regeneration of seven estates.
Announcing the investment today, 24 March, Communities Secretary Sajid Javid said: "For too long a number of housing estates across the country have been areas characterised by low-quality homes and high social deprivation.
"This government is determined to have a housing market that works for everyone. That's why we're turbocharging the regeneration of these rundown estates, so they can thrive as communities."
Housing and Planning Minister Gavin Barwell added: "Our housing white paper set out ambitious proposals to help fix the broken housing market and to encourage good design.
"Estates regeneration must be locally-led, and this £32 million fund will help breathe new life into estates throughout the country. It will help more ordinary working people have the security of a decent place to live."
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