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Large Midlands council to launch £1bn housing framework
A large West Midlands council has approved plans to launch a framework worth up to £1bn to “speed up” the delivery of new homes and regenerate estates.
City of Wolverhampton Council’s cabinet resources panel last week gave the go-ahead for the four-year ‘New Build Housing and Regeneration’ framework.
The council is expected to spend £160m on the framework, but it will be also be made accessible to other local authorities in the region, leading to an overall expected value of up to £1bn.
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Steve Evans, the council’s cabinet member for city housing, said: “This new framework will help speed up the delivery of good homes in well-connected neighbourhoods across Wolverhampton, while providing affordable housing to residents in housing need and for vulnerable people.
He added: “It will also allow our housing team to plan estate regeneration and gain advice from contractors and developers on buildability and viability as we work in partnership to ensure value for money.”
The council said it will use £109m from its Housing Revenue Account (HRA) budget for the framework, with “further provision” allowed within its 30-year HRA business plan.
The council signed a 400-home deal last September with Legal & General’s modular arm for a city centre scheme.
However, following the halting of production of new homes at the offsite firm’s factory in May, the council said at the time it was in dialogue with the company over the scheme’s future.
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