Published: 7th Nov 2019

Leicester City Council has announced a £70m investment to create new council housing.  The investment has been put forward by the City Mayor Peter Soulsby in order to tackle the need for affordable housing in the city. The investment which is made up of 30% Right To Buy receipts and 70% from the councils Housing Revenue Account, will enable the creation of up to 400 new council homes all of which will have affordable rent. By investing this money into new housing it means that the council does not have to return any of the unused Right To Buy money to the government. This announcement is part of the council’s commitment to create 1,500 new council social and supported living homes by 2023. The council currently owns around 20,000 council homes, but there are still around 6,000 people on the city’s housing register. Therefore, a total of 786 new affordable … (To read the full article, subscribe below)