Hundreds of affordable new homes are set to be built in South Kesteven after the council received a £60 million boost.
After consultation with tenants, plans to allocate up to £60 million to build new properties and refurbish existing homes were approved by the district council’s Cabinet this week.
This investment builds on the Council’s current development programme which will see 33 new properties in Grantham and Stamford fully completed soon.
Portfolio holder for Good Housing, Coun Terl Bryant, said: “Changes at national government level mean that the Council is now able to retain its rental income in full which means we can create new opportunities that will contribute to the economic vitality of the district and improve the health and wellbeing of local people.
“Use of new technologies will reduce costs for tenants, promote affordable warmth and reduce the environmental impact of construction work.
“Demand for homes is very high. The size and style will reflect the needs of local communities and will be designed to meet the changing needs of tenants over time.”
Leader of the Council, Coun Linda Neal, added that Right to Buy sales, which are currently running at around 35 a year, had increased what was already strong demand and any reduction in stock simply added more pressure for affordable housing.
Coun Neal said: “The supply of housing throughout the district has not kept pace with growth and as a result demand exceeds supply. In addition to developing our own council-owned homes we will be looking for opportunities to work with other social landlords and developers to encourage the provision of more affordable housing as quickly as possible.
“Embarking on a large building programme like this will go some way to reducing the shortfall and it will also provide the added bonus of delivering economic benefits including creating local jobs, developing skills and training, stimulating local business and enhancing the appeal of the whole district as a great place to live.”