Posted on 12 December 2016
Brighton and Hove Councillors have unanimously approved a pioneering joint venture with us to build 1000 genuinely affordable homes, based on rents that are linked to the National Living Wage.
The unique partnership will give a step up for local people earning the national living wage and includes 500 rented homes and 500 part buy part rent homes aimed at local buyers who cannot afford the deposit and costs to buy a home outright. This is known as a Shared Ownership scheme.
The joint venture is a collaboration between us and Brighton and Hove City Council which has taken several months of discussion and collaboration between all of the local political parties represented on the council.
Housing Minister, Gavin Barwell said: “Building affordable housing is a key priority for this Government. I welcome the joint venture between Hyde Housing and Brighton and Hove Council to deliver 1,000 affordable homes.
“I’m keen to see more innovative partnerships like this one across the country to help deliver the homes we need.”
Hyde Group Director David Gannicott said: “This is another fantastic example of Hyde’s creative approach to partnership working with the private and public sectors to get homes built quickly in areas where they are needed the most. Combining Hyde’s developer skills, resources and expertise with likeminded partners means we can do more together than would be possible individually. This is an exciting step for a project that has the potential to be replicated to tackle the housing shortage in London and the south east head on.”
Councillor Warren Morgan, leader of the council and chair of the Policy, Resources and Growth Committee said: “The partnership between Brighton & Hove City Council and Hyde to build 1,000 genuinely affordable homes is the biggest commitment on housing delivery in the City in a generation. This is a truly innovative project, a real first of its kind, which will help to meet housing need in Brighton & Hove for years to come. Hyde has designed a project that does exactly what it says on the tin, providing genuinely affordable homes for local people who are working hard and struggling to get by. I am delighted that the Living Wage joint venture proposal has been approved by all Members of the Policy, Resources and Growth Committee.
This is welcome news for local people who are struggling to rent or buy a home in the city. The proposal will deliver high quality and genuinely affordable homes for local residents and create a significant number of jobs and apprenticeships. I look forward to breaking ground on the first projects in 2017.”