Affordable homes plan for Fareham
Dozens of affordable homes could be coming to Fareham’s residents if the council acts ‘swiftly’, it has been revealed.
A Fareham Borough Council executive meeting agreed to buy the freehold of a block of flats, currently empty, close to the city centre, shops and public transport.
But the council needs to act quickly as other parties are interested.
It will be paid for through council funds, Housing Revenue Account (HRA) borrowing, together with either Homes England Grant or 1-4-1 receipts.
The executive committee agreed to green-light the project, which means council officers can now start the process of purchasing the property. The flats are ready for people to move in and finished to a good standard, council documents state.
Executive leader of Fareham Borough Council, Councillor Sean Woodward (Con, Sarisbury), said: “There will be housing for dozens of families very soon, and we hope to secure the project by the end of next month.”
Councillor Joanne Burton (Con, Sarisbury) added: “It is not often we see such a quick turnaround. Well done to everyone involved.”
The council report states the flats would most likely be provided as affordable rent. Social rent (the most affordable rent level) will only be possible with a substantial grant from Homes England. The flats were completed by an owner/ developer who intended to sell the flats individually or on a leasehold basis.
Cllr Woodward said:
“Over the last few years, we’ve completed and started new projects that have, and will, collectively provide approaching 200 homes for our residents most in need of truly affordable housing at a cost of over £30m funded through Housing Revenue Account capital development spend, borrowing, use of right to buy (i.e. 1-4-1) receipts, and supported by nearly £3.5m in grant from Homes England.”
Cllr Woodward praised the Housing and Planning teams, who “have continued to negotiate and secure hundreds of new affordable homes that will be provided by developers as part of their planning obligations.”
There will be housing for dozens of families very soon and we hope to secure the project by the end of next month