A key stage in a project to build 1,000 affordable homes for the city was agreed by councillors last night.
Proposals to set up a Living Wage Joint Venture in partnership with Hyde Housing were agreed last year and work has since been underway to put together the business plan setting out how the partnership will operate, and identify priority sites for development.
The Housing & New Homes committee approved the business plan at a special meeting on Monday 25 September. The committee also agreed the first three priority sites to look at for potential development opportunities – three council-owned sites in Clarendon Place in Portslade, Coldean Lane, and north west of Whitehawk.
The plan received final approval to proceed at the Policy, Resources & Growth Committee on 12 October.
The venture between Hyde and the council is being set up to deliver 1,000 new homes at living wage levels - 500 to rent for working Brighton & Hove residents earning the new National Living Wage and 500 shared ownership homes affordable to buy for residents on average incomes.
Councillor Anne Meadows, chair of the Housing and New Homes Committee, said: “Building affordable rented new homes for local people is a key priority and this is a major step forward. There is a huge demand for housing in the city and with the supply of low cost rented homes not keeping pace with demand, we’re having to look at innovative solutions to build much-needed new homes.
“Alongside our New Homes for Neighbourhoods programme building new council housing, the joint venture will deliver decent and genuinely affordable homes for local residents and create a significant number of jobs and apprenticeships.
“This is the biggest commitment to affordable housing in the city for a generation and it’s taken a lot of work to make sure the venture’s business and financial models are robust. Once the foundations are in place and agreed, we can start looking at potential sites to build the 1,000 new homes.”