On Monday night (25th September), the housing and new homes committee approved the business plan and agreed the first three priority, council-owned sites to look at for potential development: Clarendon Place in Portslade, Coldean Lane and north west of Whitehawk.
The decisions will now go to the policy, resources and growth committee on 12th October for final approval.
Last year, a living wage joint venture was set up by the council in partnership with Hyde Housing.
Since then, work has been undertaken to produce a business plan focusing on how the partnership will operate and identifying sites for development.
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The scheme is expected to provide 500 homes for rent – available to working residents earning the new national living wage – and 500 shared ownership homes affordable to buy for residents on average incomes.
Councillor Anne Meadows, chair of the housing and new homes committee, said: “Building affordable rented new homes for local people is a key priority and this is a major step forward.
“There is a huge demand for housing in the city and with the supply of low-cost rented homes not keeping pace with demand, we’re having to look at innovative solutions to build much-needed new homes.
“This is the biggest commitment to affordable housing in the city for a generation and it’s taken a lot of work to make sure the venture’s business and financial models are robust.”
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