MANCHESTER City Council is set to consider creating a new local housing development company to speed up the delivery of affordable homes in the city.
The council’s executive committee will hear the proposal after the council previously committed to deliver at least 6,400 affordable homes between 2015 and 2025 – 20% of its overall housing target of 32,000 homes during this period.
A new report drawn up by the council has concluded that creating the new council-managed company will mean it can develop affordable homes directly, allowing it to deliver new homes for Mancunians more quickly.
Councillor Suzanne Richards, Manchester City Council’s executive member for housing and regeneration, said: ‘Creating our own housing development company means we can take a far more proactive role in affordable housing delivery across the city, using our own land to direct-build the homes that Manchester people need.
‘The intention is that this will help us not only meet, but exceed our target of 6,400 new affordable homes up to 2025, and this model means we can ensure high sustainability performance to help us on our journey to become a zero carbon city by 2038.’
The council plans to use council-owned land to build affordable homes directly, while also allowing the city’s Registered Providers (RPs) to access funding for further homes.
It currently estimates that a council-managed housing company could deliver around 1,800 new affordable homes, as well as at least 1,000 further homes for market sale and rent.
‘We will continue to work closely with our Registered Social Landlords to deliver new homes across the city, but it’s important that we consider every option open to us to ensure new affordable homes are built as quickly as possible,’ Councillor Richards added.
The executive committee will consider a report outlining how exactly the housing development and management company will be carried out at a future meeting.
Manchester City Council is currently consulting residents as it undertakes a major review of its local development plan, with its final plans expected to be published by summer 2021.