Multi-million pound grant to ensure affordable rents for new development
One of Winchester City Council’s flagship housing schemes will benefit from a grant of £6.4m from Homes England, ensuring rents will be more affordable for residents.
The Valley in Stanmore, Winchester, where construction work began in April, will provide 77 new homes, a mixture of flats, houses and a bungalow.
The £18.9m scheme will be helped by the Homes England funding, which will mean the scheme can provide social rents, making it more affordable for tenants.
Cllr Kelsie Learney, Cabinet Member for housing, said: “Our ambition is to provide truly affordable homes in the right places, ensuring the district can be called home by as many people as possible.
“This funding will help us to achieve this goal, and we will continue to seek new and innovative ways of providing more affordable rental properties across the district.”
Peter Jones, head of affordable housing and supply at Homes England, said: “We are really pleased to see these new and much-needed homes for social rent being provided by Winchester City Council helped by our investment.
“It is also good to welcome Winchester as a new partner for our affordable homes programme within the Wayfarer consortium and look forward to developing the relationship.”
The news comes as The Valley was also selected as a finalist for Development of the Year in the South Coast Property Awards 2019.