Dozens of new affordable homes are set to be built under Milton Keynes City Council’s first Local Housing Company scheme.
The Progressive Alliance, the Labour and Liberal Democrat coalition which runs Milton Keynes City Council, is continuing plans to establish the Local Housing Company.
It will be the very first scheme set to deliver dozens of affordable homes for families across the city.
A decision will be made on today (13/12) to progress the application for the Local Housing Company, a subsidiary of the Council-owned Milton Keynes Development Partnership (MKDP), to obtain Registered Provider status – making the Local Housing Company a formally recognised social housing provider.
Under the application, the City Council hopes to kickstart the Local Housing Company by building 78 homes in Kents Hill Park.
34 properties will be charged at social rent levels, while the remaining 44 properties will be rented at 80% of the market value with a Local Housing Allowance (LHA) cap.
This means that rent on a four-bed property, for example, would be just over £700 for social housing or under £1,200 for affordable standard.
There will be a mixture of two, three, four and five-bed properties.
The properties will be sustainable and result in lower energy costs through the use of triple glazing, insulation and air source heat pumps.
Councillor Robin Bradburn, Lib Dem Deputy Leader of the City Council, will take the decision to submit the application:
Councillor Rob Middleton, Labour Progressive Alliance Cabinet Member for Resources, added:
"The Local Housing Company tackles this issue head on and allows families to live in properties that are affordable and sustainable. We are committed to providing more affordable social housing and the Local Housing Company will help us do exactly that.”
The properties in Kents Hill Park are expected to be completed and ready for occupation in early 2024, subject to approval.
