More than 400 homes are to be built across Oxfordshire over the next four years as part of the Homes and Communities Agency (HCA)'s affordable homes programme.
Set up in 2008 by the Government, the HCA funds major housing developments and has agreed a deal worth £31.5m with the Sovereign Development Consortium (SDC) to deliver 1,856 affordable homes in the south by 2015.
A total of 427 of those homes will be built in Oxfordshire by the SDC, a group of eight housing providers that the HCA said would work together to cut costs, make efficiencies and share best practice. The group includes the Cottsway Housing Association, which is based in Witney.
Most of the homes will be built to rent, with around a quarter available to buy. The HCA said 80 per cent of the programme would be delivered on already identified sites.
“We are delighted that the good track record of Sovereign Development Consortium members in delivering cost-effective affordable homes has been recognised. This success has ensured that we are one of the largest recipients of HCA funding in the South West,” said Phil Stephens, development and commercial director for Sovereign Housing Association.
“The current state of the housing market, where house prices are up to eight times the average salary, makes the provision of more affordable homes, whether for rent or shared ownership, all the more important."
HCA executive director for the South and South West, Colin Molton, said: “This agreement is great news as it will see much needed new homes delivered across the south and south west and make a significant difference to the local communities in which we work.
“Our local teams have worked closely with the members of the Sovereign Development Consortium over recent months to ensure that its programme brings the maximum benefit for local people. But in many ways, the hard work starts now - and we will be focused on ensuring that people see the benefits of our investment over the next four years.”
