Strategic Objective 4

More affordable homes pledge

We will be resourceful and innovative to deliver an increased programme of genuinely affordable quality homes

More affordable homes pledge

This is about looking for opportunities to build more affordable homes by partnering with others and by using the assets that we currently have. We will build a mix of homes to meet a range of housing needs and home ownership aspirations.

How we will do it – our five-year objectives

  • Working with our development partners through an option appraisal process, produce a development programme for our own sites (Year 1 priority)
  • Secure at least 60 homes per year through traditional land and build procurement (Year 1 priority)
  • Increase investment in market sales through CCHADL
  • Explore opportunities for management only partnerships on new build
  • Ensure that all of our existing homes are financially viable through our active asset management system

What we are doing now

We are committed to building more affordable homes for local families who need them. Our target for Year 1 is to build between 50 and 60 homes, with half for affordable rent and half for shared ownership or private sale. Any surplus we make from the sale of homes will be reinvested to provide more affordable homes.

Development framework

To meet this challenge, we have established a development framework which gives us and other smaller housing providers access to suppliers with the expertise to develop new homes. It means that we don’t need an in-house development team. Instead, we have much more flexibility and security to find sites, create opportunities and build homes. We have identified four key partners who will develop homes on our behalf. The focus will always be on providing homes that are genuinely high-quality, where residents can feel proud to live.

Option appraisal project

We will also be looking at the potential to develop more homes on our existing sites through an option appraisal project. Over the last year we have built homes for affordable rent on a disused car park at the back of one of our schemes. In Year 1, we will look for similar opportunities where we can make use of our land or re-purpose existing schemes.

Environmental policy

In Year 1 we will also be reviewing our environmental policy. This will look at what we need to do to meet the Government’s green agenda, and provide homes that are energy efficient with a low-carbon heating alternative to gas.

How we will measure our success

Our aim is to grow our housing stock by 5% year on year, with half of our new-build properties made available for affordable rent. The target for Year 1 is to develop between 50 and 60 homes, which would bring a significant uplift to our housing portfolio.

Strategic Objective 5