Manchester’s Affordable Housing Programme will ensure more than 2,200 homes by March 2021. This will be through a £250m programme funded through a variety of sources.
The sources include Homes England grant funding, Council borrowing and land or property sales and Registered Providers.
Some 548 homes are already being constructed with a further 1,711 in the pipeline. These are a mix of affordable rent, shared ownership, affordable rent to buy and social rent.
The creation of a Housing Affordability Fund, will bring together developer affordable housing contributions and other funding streams in a single pot. It was approved by the Council in October 2017 to help subsidise the creation of homes that are affordable to rent or buy across the city.
There is already £1.2m in the pot, with significant further receipt expected in the coming months from section 106 agreements with developers and land sales.
As part of this drive, four Housing Affordability Zones have been approved where the Council owns a significant amount of land. This land can be used to help accelerate affordable housing being brought forward. In each of the zones the Council will be working with a registered social housing provider to help bring schemes forward.
Central North Manchester, Clayton, Beswick and Wythenshawe Town Centre will boost building, it is expected. There will be an additional 2,000 affordable homes over the next five years on top of those already planned.
The rent for the new build council homes in North Manchester will be £440 per month.