Housing Market Renewal (HMR) was established by Central Government to tackle the problems of low demand housing markets with an aim to revitalise unpopular neighbourhoods.

There are nine Housing Market Renewal areas across the country called Pathfinders. Rossendale is included in the Regenerate Pennine Lancashire Pathfinder. The other National Pathfinders are: Newcastle and Gateshead, Humberside, South Yorkshire, Birmingham and Sandwell, North Staffordshire, Manchester and Salford, Merseyside and Oldham and Rochdale.

Rossendale is included in the Regenerate Pennine Lancashire Housing Market Restructuring Pathfinder - and seeks to tackle the problems of low demand and unpopular neighbourhoods in Pennine Lancashire through delivering a sustained housing investment programme for the sub-region.

Housing Market Renewal provides a once in a life time opportunity to uplift the quality of life for the residents of Bacup, Stacksteads & Britannia through improving housing, access to services and the environment around them.