Published: 12th Sep 2018

The housing company was given the green light by the council’s cabinet when it met on September 4. In a statement, they say the company will give the council greater influence over what is built in the city, which would help ‘ensure developments provide good quality homes within mixed neighbourhoods that best suit the needs of the local community.’ Mayor Marvin Rees has set a target of building 2,000 homes per year, 800 of which being ‘affordable’,  by 2020. The company will be wholly owned by the council, and the first schemes will be joint ventures with an as yet unnamed developer. The council says this will reduce the ‘exposure to risk for the council’ and draw on the expertise from the commercial development world. They add that by using a joint venture arrangement on development sites it will enable the council to share in the financial returns from the project, which … (To read the full article, subscribe below)