Ambitious plans to build over 1,000 affordable homes in this town will be discussed by Northampton Borough Council’s Cabinet next week.
If approved, this long-term project will provide homes for a large number of families and individuals across the town, with 1,000 homes set to be built over a 10 year period.
The council has been working with their housing management organisation Northampton Partnership Homes (NPH) to develop options to make the best use of both funds and land to build as many new homes as possible.
Mike Kay Northampton Partnership Homes chief executive said: “The way council housing is funded is restrictive, so we soon realised that a one-size-fits-all approach would not deliver anywhere near the amount of affordable housing needed in Northampton.
"We’ve worked with the council on a scheme that will enable us to access additional funding through a newly created independent charitable society that benefits from stamp duty relief and corporation tax exemption. At the same time, we will use all proceeds from Right to Buy Sales and establish new opportunities with developers.
“NPH is already delivering a number of new affordable homes across the borough. We are truly excited at the prospect of being able to build significantly more homes in the future. We know how much this housing will mean to the people of Northampton now and in the future”.
A decision on whether to approve the proposals will be made at a special cabinet meeting on Wednesday, February 21.
Stephen Hibbert, Northampton Borough Council’s cabinet member for housing said: “Addressing the shortage of housing in Northampton is my top priority.
"I believe that in partnership with NPH, we can make significant progress in meeting the needs of people on the housing register and providing good quality, affordable homes to those who need them most.
"We have already done some good work in this area but the new approach we're proposing will significantly increase our ability to deliver for Northampton's social housing needs in the coming years.”