City of Wolverhampton Council has revealed its new housing company will be called WV Living.
The detailed business case for the company is set to be approved by Full Council in September and it will start trading shortly after.
Work on the first phase of homes to be built is then expected to begin in spring 2017.
Wolverhampton currently has sufficient land identified to meet projected housing targets but the council is eager to increase the rate of delivery.
Councillor Phil Bateman said today ” I support this action, as it will allow the City to make housing provision that will provide perhaps some faster development. Homes are urgently required across the City, and also here in Wednesfield North. It should also allow the City to develop some of its less popular sites, at a faster rate. I am also keen to see the city build more affordable homes as well as homes for rent. Having your own company may allow that sort of greater flexibility. WV Living has earmarked the Danesmore site as one of the four sites than may be delivered first. Click on the video link and see and hear what City of Wolverhampton Council – Full Council meeting will be requested to support in September.”