Leicester City Council is set to invest extra money on building and buying properties which can be used to provide much-needed affordable housing in the city.
City Mayor Peter Soulsby has set out plans to use £7m to buy houses and housing sites which can be turned into affordable rented homes, in addition to £8m which was agreed back in November 2018.
The move is needed to help tackle the level of housing need in the city. The city council claims about 786 new affordable homes are needed each year but only about 146 are secured.
The council will use the money to buy some privately-owned homes, including blocks of flats and rows of privately owned houses.
The extra money will cover the costs of buying up land and buildings, and the costs of any works needed to bring the sites up to the required standard to be rented out.
It’s the latest stage of a longer-term project to provide 1,500 more affordable rental properties over four years.
City Mayor Peter Soulsby said: “New, affordable council housing is badly needed if we are to meet the level of housing need in the city.”
“Since the government gave tenants the right to buy their council homes more than 30 years ago, we have been forced to sell thousands of council houses, which has drastically reduced what is available.”
“Now, by using money raised under the Government’s Right To Buy scheme, we can significantly increase our housing stock by buying up existing or planned properties, to ensure they go to house the people in most need on the city council’s waiting list.”
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