South Holland councillors are poised to make a decision on Wednesday which could lead to the formation of a ground-breaking new housing company to address shortages of homes in the district.
Coun Christine Lawton, portfolio holder for housing, said: “We are acting now to help alleviate the increasing demand for housing in South Holland.
We need an additional 550 to 600 new homes every year for the next 21 yearsCoun Christine Lawton
“It is anticipated that we need an additional 550 to 600 new homes every year for the next 21 years, split evenly between the private and affordable markets.
“We also know there is a need to reduce the gap between earnings and the affordability of housing in the area.
“The robust draft business plan that has been painstakingly developed not only puts us in the driving seat to deliver some of that growth, but it also allows us to maintain and raise the standards within the private, rented sector.
“Providing a mix of good quality housing into the market place will also support business growth, stimulate our local economy and provide valuable income to the council to support other services.
“Interestingly this is not just about providing affordable homes. The draft business plan is based upon the delivery of 89 homes for rental and 13 to be sold as well as 40 affordable homes.
“It is also intended that in the first year of the company’s existence it will acquire around 25 homes for letting. There will also be a mixture of house sizes and designs based on market trends so that the company can compete within the market.
“Rigorous testing of the financial model has also taken place so that the risks associated with any commercial venture are mitigated.”
If approved, the new company will embark on an ambitious first phase of developments to deliver 142 much needed homes by early 2017.