Developers with stalled sites of just 15 homes will have the chance to bid for at least £100m of investment to get work restarted under the Get Britain Building programme.

The programme, which supports developers facing difficulties accessing development finance and by sharing risk, will unlock up to 16,000 homes by March 2015.

Development is underway on sites in Ashford, Kent, and in Bath while funding has been allocated to 40 schemes so far, set to deliver more than 3,200 new homes once contracts are agreed. It is expected that all allocations to successful schemes from the original shortlist will be made over the summer.

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Chief Executive Pat Ritchie said: "It has been a tremendous effort from the industry and the HCA to get this programme up and running, and with more than £110m allocated I look forward to seeing these developments progressing to build much needed housing."

The second round of bidding opens today and a prospectus, expressions of interest template and supporting guidance are now available.

The funding for a further round of bids is available due to some schemes withdrawing from the programme, others failing to pass due diligence, or where final allocations were less than the original bid.

The total available will be at least £100m, and will be confirmed once the due diligence and allocations to the remaining first round schemes has been completed.

(CD)