Council bosses are set to welcome a ‘major decision’ to invest in a multi-million-pound scheme, which will see the authority build homes for outright sale for the first time in decades.
At a meeting of Dudley Council’s cabinet next week (June 27), members will receive an update on the homes for sale project, a ground-breaking initiative that will see the council invest £9.7million to build 59 homes for sale on the open market and 20 affordable homes.
The properties will be developed on four plots, including the sites of the Mere Centre in Stourbridge, Amblecote House on Brettell Lane, Turner House in Dudley and St Thomas’ Network in Dudley.
The expected return on investment will be ploughed into boosting the council’s resources to improve and support council services.
Councillor Laura Taylor, cabinet member for housing, said:
This is a major decision for Dudley. It’s the first time in decades the authority is able to pursue a project to build homes for outright sale at market value, alongside our ongoing project to build new affordable council homes.
This decision refines what we had originally planned and we will build on the experience we have gained in recent years from developing quality council homes. We’re confident we can deliver the homes that people want at affordable prices.
This is an exciting time for us and any return on our investment will be used to support future housing investment as well as boosting general fund reserves to continue to improve council services for all of our residents."
The new homes for sale initiative replaces the original starter homes scheme in Dudley. The same number of properties will be developed as originally planned.