Lancaster City Council has been told 60,000 households require affordable housing needs across its district
A debut business plan for two new housing companies created by Lancaster City Council says 60,000 households across the district have various types of affordable home needs. They include people in owner-occupied, private rented, social housing and other types of accommodation, states the plan, which is to be reviewed by councillors on the cabinet this month.
The Morehomes investment company’s purpose is to increase the number of ‘genuinely affordable’ housing in the area but also improve the offer and quality of private rented homes, the business plan states. Meanwhile, the Morehomes development company wants to work with the city council, developers, architects. housing associations and others on projects.
A report for this month’s cabinet states: “The joint business plan sets out the companies’ objectives, governance and management arrangements as well as consideration for how schemes will be brought forward in the future and delivered. Work at Mainway was expected to be done in phases. The first phase was due to start this financial year and take around 12 months.
The Morehomes business plan says ‘economies of scale’ will be essential for the financial viability of the new companies. Larger property schemes of at least 50 homes will be needed. Initially, development schemes with a lower number of properties will not present a viable position. In the longer term, each business case will assess the financial viability of each potential project.”
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