Plans for a new £15.2 million housing company to provide 142 new homes in South Holland have been backed by a leading developer.
Bourne-based Larkfleet Homes, which is behind the Glen Grange development in Pinchbeck, said the move by South Holland District Council would help meet “the need for new homes for local people” in the area.
Strong support for the housing company, to be named by Lincolnshire Free Press and Spalding Guardian readers, was given by councillors at a meeting two weeks ago.
Karl Hick, chief executive officer of Larkfleet Homes, said: “We welcome this announcement and look forward to the new company starting work.
“There is a real shortage of affordable, good-quality housing in this area and this initiative from the council will go some way towards meeting the need for new homes for local people.”
A business plan for the housing company sets out to provide 13 homes for sale, 64 for rent, 40 for affordable housing and 25 to be bought for letting purposes.
A report prepared for the council said: “The role of councils in meeting the housing needs of their districts is changing and local authorities are increasingly looking at the role they can play in stimulating and delivering new housing investment.
“The drivers for taking a leading role in housing investment are to directly address housing supply shortfalls and could be to help generate additional revenue to support other identified priorities.
“South Holland is a district with a growing population and over the next 20 years, the number of households living within the district is projected to increase by over 27 per cent.
“An estimated 600 homes are required to be built every year over this period to keep up with the demand from growth in the population and the economy.”
Coun Christine Lawton, portfolio holder for housing, said: “Our policy and enthusiasm for the housing company has cross-party support.
“It has been through scrutiny and it has been given the seal of approval.”