Prime Minister (PM) David Cameron has revealed a new £140 million fund will be made available to 'jump-start' regeneration projects.
The government will work in partnership with 100 housing estates across the UK to either transform them, or carry out demolitions and replace the estates with new homes.
It will be supported by a new Estate Regeneration Advisory Panel chaired by Lord Heseltine.
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The announcement comes ahead of a report from property advisor Savills which will show the approach to regeneration could help catalyse the building of hundreds of thousands of new homes in London alone.
Successful regeneration schemes have helped revive some of the most deprived estates, such as Woodberry Down in Hackney London, which is to contain 5,500 new homes.
In addition, Packington Estate in Islington now provides 791 mixed-tenure houses and flats.
The PM said: "For decades, sink estates – and frankly, sometimes the people who lived in them – had been seen as something simply to be managed. It's time to be more ambitious at every level.
"The mission here is nothing short of social turnaround, and with massive estate regeneration, tenants protected, and land unlocked for new housing all over Britain, I believe we can tear down anything that stands in our way."
(LM)
