1,000 new homes planned by council
Shropshire Council is pleased to announce ambitious plans to build 1,000 new houses, including 400 council homes, over the next five years.
Following decisions made at the Full Council meeting in February 2020, Shropshire Council’s local housing company, Cornovii Developments Limited, will have access to a rolling loan facility of £35m, on top of a £14m loan previously agreed.
The council also agreed in principle for the Housing Revenue Account (HRA), which holds the council’s 4,100 council homes and is managed by Shropshire Towns and Rural Housing (STaR Housing), to borrow £10m per year over the next five years. This, together with HRA reserves and potential grant funding, amounts to a £75m investment in new housing.
Both companies working and developing together will provide a wide mix of housing tenures to help address the unmet housing need in Shropshire. This will include affordable rent, low-cost home ownership, private rented, and open market sales.
Development will include homes specifically built for key workers, veterans, older people, those with learning and physical disabilities, and those struggling to afford or buy on the open market.
Properties will be spacious, built to Lifetime Homes and Building for Life Standards, low-carbon, energy and water efficient, and resilient to climate change.
Shropshire Council is committed to building the right homes in the right places to create thriving and sustainable communities. Core to this is integrating local health, education, employment, transport, shopping, leisure and amenity needs into new development.
New homes across the county will help support the local economy, create new jobs and apprenticeships, and generate additional value to reinvest into council services.
Robert Macey, Shropshire Council’s Cabinet member for housing and strategic planning, said:-
“A great deal of work has gone into identifying the unmet housing need in Shropshire. This unprecedented level of local investment presents us with a unique opportunity to build the quality, reasonably-priced homes that people and their families need, whilst at the same time helping to address many of the other housing challenges facing our county.”
Mark Barrow, executive director of place, said:-
“Today’s announcement demonstrates our determination to build the homes Shropshire needs. Last year, affordable housing accounted for just 14% of overall new builds in the county. Our plans commit the council to delivering 40% affordable housing across the portfolio of our new housing and business plans.”