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New affordable housing pilot programme announced
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A groundbreaking new pilot programme aimed at changing the way affordable housing is delivered in Cambridge has been launched in a new document setting out details about the Housing Corporation's Cambridge Challenge pilot.
The Corporation is looking to pre-select a strategic development partner to deliver affordable housing on three strategic sites in Cambridge - Northstowe, Southern Fringe and North West Cambridge.
The economic success of the region has made it one of the most attractive places to live and work in the UK. However, this success comes at a cost - house prices have risen making it even harder for first time buyers and young people to get onto the property ladder.
Margaret Allen, Housing Corporation Field Director (Central), said: " We hope this will herald a major step change in the way we deliver affordable homes in Cambridge.
"The sites identified are in areas where there is planned significant growth and an acute shortage of affordable homes. Working in partnership with Cambridge City and South Cambridge Local Authorities, English Partnerships and the private sector, we hope the Cambridge Challenge pilot will enable earlier engagement of partners to contribute to the development of a sustainable future for the new communities supported by timely infrastructure development and other community provisions."
John Lewis, Director, Eastern England and Milton Keynes, English Partnerships said: "It is really encouraging that new approaches to affordable housing delivery are being taken forward. We are working closely with the Housing Corporation to maximise the benefits this initiative should deliver."
The Corporation is looking for innovative proposals and evidence of capacity to deliver high quality, cost effective and sustainable new communities.
The selected partner or consortium will not be given a guaranteed level of funding but an assurance that (for a specified term) they will be the sole partner and the sites will not be subject to subsequent competitive processes against other bidders.
In exchange for this assurance, the partner will commit to high level standards, procurement gains, delivery volumes, value for grant and contributing to community infrastructure.
The successful partner will be chosen in advance of the 2008/2010 bid round and will be given a five-year funding commitment.
The deadline for submissions is noon Thursday February 15.
