Leicester City Council has announced plans to set up its own housing company to build affordable housing in Leicester.
The council aims to build 50 affordable homes in the first year of the company’s operation, with work starting on site at the end of this year.
The homes will be built on land already owned by the council, and the first homes to be built will include two and three-bedroom houses and some bungalows.
These will be the first council built homes in Leicester since 2013, when 81 homes were built by the council.
Some of the the affordable homes would be offered for sale but most would be offered to people on the 6,000 long housing waiting list.
Cllr Andy Connelly said: “We’ve already earmarked more than £2 million of council funding for our house-building programme, and can also use some of the money raised through the sale of council houses, although most of this has to go to the Government.”
“By setting up an arms-length company, we can access the finance we need to build new homes and make an impact on the housing market that would otherwise not be open to us.”
The company would be separate to the council with its own directors but would receive “financial, legal and administrative support from the authority.”
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