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W2, a 10 year joint venture between Warwick District Council and Waterloo Housing Group has been formally agreed to deliver 300 affordable new homes over the next 3 years.
Warwick district is a much sought after location to live, work and visit, so there is a significant housing need in the district, which this innovative venture addresses.
Councillor Vincett, Portfolio Holder for Housing & Property Services said "Even in the current economic climate, with budgets being cut, we have kept the needs of our residents and the community at the heart of what we do. Increasing the provision of affordable housing is a key priority and we are proud to have signed this joint venture even in the most challenging market conditions."
W2 will focus on delivering state of the art energy efficient and adapted homes to meet the needs of a diverse range of residents across the district. W2 will utilise both council and privately owned sites. Advanced discussions are taking place to bring forward the first council owned site. The first development on a privately owned site will be on Park Road, the former North Leamington School site, where 23 affordable homes will be delivered in partnership with local house builder AC Lloyd, with completion anticipated for 2013.
Alistair Clark, Director AC Lloyd said; "A C Lloyd are delighted to bring their 60 years experience in house building to work with Waterloo and other housing associations to promote affordable housing in the area."
The properties will be advertised and allocated to those households registered on Warwick District’s Choice Based Lettings Scheme, HomeChoice.
It is expected that W2 will boost the local economy, offering employment opportunities to local businesses, such as Wright Hassall solicitors and building contractors, AC Lloyd.
Anthony Riley, Director of Development and Operations, at Waterloo Housing Group said; "We are delighted to be working with Warwick District Council in building new affordable homes. Working in partnership with the council and the Homes and Communities Agency we can go some way towards meeting the high level of housing need in the district. We are offering a range of options including helping those on the Council’s waiting list and providing shared ownership homes where people can part rent and part buy."
Lindsey Richards, Head of Midlands South for the Homes and Communities Agency said; "We are really supportive of the joint venture between Warwick District Council and Waterloo, and are pleased that through Waterloo’s successful Affordable Homes Programme bid, the benefits of our investment will be felt by local people in Warwick district. As well as tackling affordability issues through housing, we will also be supporting the partnership to boost economic growth through innovative uses of public and private sector land."
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