Stroud District Council sale allows Fortis Living to build affordable homes
Published: Monday, 29 January, 2018
The number of affordable houses in the district is set to increase now that Stroud District Council has sold a parcel of land to Fortis Living, an affordable housing association based in Worcestershire.
The undeveloped land of 1.2 acres in Fountain Crescent, Wotton under Edge, was sold for £850,000 and already has planning permission for 22 affordable homes, most of which will be for rent, with the rest allocated for shared ownership.
The council is also able to give Fortis Living a grant of almost £900,000 towards the construction costs of the homes, which was raised after selling its own council homes under the government’s `Right To Buy’ scheme. Under the terms of the scheme the funds raised by selling council houses must be re-used to build new affordable homes.
Cllr Mattie Ross, chair of Stroud District Council’s housing committee said:
"This sale demonstrates an innovative way to use Right to Buy funds to provide new affordable homes in the district which otherwise would have been claimed by the government. In addition the sale has raised a considerable amount of money which can be used to help fund the council’s in-house building programme
Cllr Catherine Braun, one of Stroud District Council’s councillors for Wotton under Edge, who lives close to the scheme added:
"This is very positive news for Wotton under Edge. With a lack of affordable housing here, the new development will provide more options for local people to stay in the area."
Cllr Ken Tucker and Cllr George Butcher, also ward councillors for Wotton under Edge said:
"We are delighted that this dream has now been realised and look forward to building starting in 2018."
Fortis Living’s Assistant Director of Growth and Development Simon Vick commented:
"Fortis Living recognises the challenges of providing affordable homes for local people in affluent, rural communities. This development will offer local people an opportunity to rent or own a home in an affordable way."