This will include bespoke properties for the homeless, foster carers, large families, the elderly and people with a disability.
A report – which will be given to the council’s cabinet on Friday 15th December – will recommend the authority to create the company, to be called ‘Foundations’, in a bid to shake up the city’s housing market and improve the rent to buy sector over the next decade by offering packages that take a percentage from rent towards a deposit.
The Mayor of Liverpool, Joe Anderson, is proposing the plan as the city needs 27,000 new homes by 2030, with surveys revealing that housing supply is dominated by small terraced houses, which skews the city’s council tax revenues.
Foundations – backed by an estimated £500m investment programme – will utilise council-owned land and refurbish vacant stock, and will also assist the council to future-proof the housing market for an ageing population.
The programme is estimated to create 2,000 new jobs.
- Liverpool Council set to approve affordable housing plans
- 34-home Liverpool affordable rent development completes
- Liverpool City Council agrees multi-million-pound partnership to build care homes
The new properties would include:
- bespoke new housing for people who want to downsize, releasing larger homes for families
- filling a significant gap in the city for larger homes, especially for families who want to become foster parents, reducing the pressure on the city’s caring provision for children
- new homes in supported environments for the homeless, rough sleepers and those with addiction problems
- affordable rents, which help people save for their deposit to buy the house they are living in
- adaptable housing which suits those with disabilities or changing needs due to their age; or can be easily converted in the future, saving the council in social care costs.
Mayor Anderson said: “Liverpool is a growing city and we need to create an exciting housing sector which meets the needs of our people.
“We need a wider range of properties to suit a growing range of scenarios, but crucially also help people own their home.
“That’s why we are going to offer rent packages which help people save for their deposit then buy their home.
“We have stock that can be refurbished and we have land that can be built on so, once the company is established, we can hit the ground running.
“This will be a win-win for everyone as the council will be able to increase council tax, influence the quality of the housing and support people who want to buy by turning rent into a deposit.
“This company has more than just a social value, its business model also stacks up as a serious investment in the future of the city.”