City Council leader Warren Morgan has announced that by 2018 a thousand new affordable homes could be built in Brighton & Hove in addition to the 500 new council homes pledged in the Labour election manifesto.
It is proposed that Brighton & Hove City Council would form a partnership with Hyde Housing Association to provide homes for rent or buy at levels linked to the National Living Wage rather than local house prices.
Cllr. Morgan said the scheme would put renting or owning a home within reach of thousands of lower incomes workers and families in the city at a time when property prices have risen over 10 per year in the past 12 months.
He said the scheme could be funded through low-interest loans from the Public Works Loan Board (PWLB) [which was used to finance the
i360] together with financial resources the council is already allocated for affordable housing linked to major developments.
Warren Morgan said that the soaring housing market in the city has made the commitment to provide 40% affordable homes in new developments over 9 units as “meaningless”.
The properties would be protected from national right to buy rules, set to be extended to housing association homes during this parliament, and will be allocated to residents by the council.
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