Milton Keynes Council has revealed plans to establish a housing company to create 2,000 truly affordable homes.
The councils cabinet is due to meet on 10 March to discuss a report to create the company, which it claims could positively influence local landlords, by setting higher standards for others to follow.
If the plans are approved, councillors will ask the Milton Keynes Development Partnership (MKDP) to explore how a new company could function and set out a business case for the local authority to consider at a later date.
According to the report going before the cabinet, the new company will be expected to deliver 2,000 affordable homes for local families by 2023.
This will be in addition to the councils commitment to building 500 new council homes across Milton Keynes.
The report also states that 26,500 dwellings need to be built across the borough by 2031 to meet expected population growth figures.
A local housing company (LHC) would offer the council additional flexibilities in its housing offer to residents, and set a good landlord standard to positively influence other providers of housing, the report states.
The option of not setting up a LHC has been considered. Because this would not address the target set out in the council plan objective, would not increase the flexibility with which the council can address current and future needs for truly affordable housing, and would not provide additional routes out of homelessness, this option is not recommended.’
In December, New Start reported that residents living on a Milton Keynes council estate have voted in favour of regeneration plans, including new homes and a community hub.
More than half (55%) of residents who took part in a ballot voted in favour of estate-wide improvements.
The councils cabinet member for housing and regeneration, Cllr Nigel Long said: We want the council to be leading the way and setting the standard of being a good landlord. A new housing company will enable us to shake up the market and deliver much needed new homes for Milton Keynes families.
I look forward to working with colleagues as we build on these proposals to get a fairer deal for our residents.
Photo Credit – Jo_Johnston (Pixabay)