Dozens of affordable homes to be built under MK Council’s first Local Housing Company scheme
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Plans to establish a Local Housing Company - the first ever scheme to deliver dozens of affordable homes for families across MK, are set to get the green light.
A decision to push through an application for the Local Housing Company, a subsidiary of the council-owned Milton Keynes Development Partnership (MKDP), is expected to be made tomorrow, obtaining Registered Provider status. This will formally recognise the Local Housing Company as a social housing provider.
Under the application, the council hopes to kickstart a scheme to build 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 - which is below the typical market rent of around £1,500.
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 submit the application. He said: “Launching the Local Housing Company will be a leap towards more high-quality, truly affordable housing in Milton Keynes. We are kickstarting the very first scheme with just under 50% truly affordable housing which sets a great precedent for future developments.”
Councillor Rob Middleton, Labour Progressive Alliance Cabinet Member for Resources, added: “It isn’t fair that families are being pushed out of the city due to sky-rocketing housing costs. 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 Kents Hill Park properties are expected to be completed and ready for occupation in early 2024, subject to approval.