The Housing Market Renewal Initiative (HMRI) is a package of policies in the North of England aimed to address housing market failure, which was defined as housing which in local markets was priced below the build cost, such that renovations were uneconomic and the sale of property would not generate sufficient funds to move elsewhere. HMRI is also referred to as Pathfinder. There are nine geographical areas identified in this initiative.
The ambitious plan involves massive investment into these areas of a total of £1.2bn up to 2008.
Each area's scheme was given an individual brand name, i.e. Merseyside's Pathfinder area is also called NewHeartlands .
These areas are:
- North Staffordshire (Stoke-on-Trent/Newcastle-under-Lyme)
- Birmingham and Sandwell
- Merseyside (Liverpool, Sefton, Wirral)
- Manchester and Salford
- East Lancashire (Blackburn with Darwen, Hyndburn, Burnley, Pendle, Rossendale)
- Newcastle and Gateshead
- Humberside
- Oldham and Rochdale
- South Yorkshire (Sheffield, Barnsley, Rotherham and Doncaster)
Read more about Housing Market Renewal Initiative: History, Merseyside (Liverpool, Sefton, Wirral)
Famous quotes containing the words housing, market, renewal and/or initiative:
“We have been weakened in our resistance to the professional anti-Communists because we know in our hearts that our so-called democracy has excluded millions of citizens from a normal life and the normal American privileges of health, housing and education.”
—Agnes E. Meyer (1887–1970)
“I refuse to be. In
the madhouse of the inhuman
I refuse to live.
With the wolves of the market place
I refuse to howl ...”
—Marina Tsvetaeva (1892–1941)
“We sing the funeral, as goes the custom, with the hymn of the Dead. But Manuel, he chose a hymn for the living: the song of the coumbite, the song of the earth, of the water, the plants, of fellowship between peasants because he wanted, as I now understand it, that his death for you be the renewal of life.”
—Jacques Roumain (1907–1945)
“A shocking crime was committed on the unscrupulous initiative of few individuals, with the blessing of more, and amid the passive acquiescence of all.”
—Tacitus (c. 55–120)