First sites earmarked for council owned housing company
City of Wolverhampton Council has earmarked 4 sites for the first phase of development by its own housing company.
Wolverhampton currently has sufficient land identified to meet projected housing targets but the council is eager to increase the rate of delivery.
Subject to Cabinet approval, the housing company will embark on an initial 3 phase development programme over 5 years.
The first phase, between 2016 and 2018, will see around 371 homes built on council owned land at the former Danesmore Park Primary School site in Ashmore Park (45 homes), former Wednesfield High School site (258 homes), former swimming baths site on Prouds Lane in Bilston (40 homes), and former Ettingshall School site (28 homes).
A quarter of the homes developed will be set aside as affordable council homes.
Councillor Peter Bilson, Deputy Leader and Cabinet Member for City Assets, said: “Identifying these 4 sites brings a council owned housing company a step closer to becoming a reality.
“Wolverhampton currently has sufficient land identified in the local plan to meet projected housing targets. However the rate of delivery remains relatively low.
“There are already 28 local authorities with housing companies and this type of business model for market sale and rent has worked well in other parts of the country.
“There is a strong belief that a council owned housing company is both viable and offers the best outcomes for the council in terms of both strategic housing and income generation.
“The housing company will support the overall house building programme in Wolverhampton and will deliver quality homes for all.”
Full surveys and reports are being gathered for all 4 first phase sites, which will also require planning permission.