|Council Offers Incentive To Build Homes For Rent|
Homebuilders can apply for a share of a £4million pot
The aim is to deliver up to 130 additional affordable properties in the borough. The grants available to public and private sector developers, must be used to provide additional homes for low cost rent over and above the number already funded and approved.
The council would decide who the new homes go to with priority given to local working households.
The homes would be available on an affordable rent basis with tenancies lasting up to five years.
Cllr Paul Ellis, Wandsworth Council’s housing spokesman, said: "This scheme is designed to maximise the number of affordable homes built on local sites. Wandsworth residents will have up to 130 additional affordable rent homes to live in by the June 24, 2014e new properties will go to local working households. The scheme is being part funded by right to buy sales - so as council tenants take a step into home ownership they provide money to build more affordable properties in the local area.”
The council is now asking for expressions on interest from homebuilders interested in the scheme. All bids will be subject to financial appraisal and due diligence and will be based on bridging a funding gap in order to increase delivery of low cost rent housing.
June 23, 2014