Picking Up The Slack: Why Private/Public Partnerships are Helping Bridge The UK’s Social Housing Gap
It’s a property crisis that is costing Britons billions and leaving millions without affordable accommodation.
But now a new series of private and public partnerships are helping to plug the UK’s social housing gap.
A report by CBI, revealed a shortage of affordable housing is sustaining above inflation property price rises and costing taxpayers £4 billion a year (in the form of a combined housing and transport bill).
Now an increasing number of private developers are stepping in to partner with public sector bodies on new building projects across the UK.
One of those adopting the approach is Fortitudo Property.
A series of developments in Poole, spearheaded by Development Specialist Richard Carr, will provide the council with its largest ever Community Infrastructure Levy and Social Housing contribution to date.
Construction has started on four developments on Lilliput Road, which will produce 36 luxury apartments with underground parking. The Development of 74,76,78,80 Lilliput Road will contribute £300,000.00 towards social housing in the area and £1M in CIL payments, which will help towards improving the local community.
Richard Carr, an employee for the company, comments: “I am pleased we have managed to achieve this for Poole and still have a viable business model moving forward.
“Our latest development will help ease the burden of social housing on the local council, whilst the CIL contribution will help build new facilities for residents.”