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£20m pledged for 'affordable' homes by social landlord

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£20m pledged for 'affordable' homes by social landlord

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Published by Max Salsbury for 24dash.com in Housing and also in Central Government, Development, Finance

20m pledged for 'affordable' homes by social landlord 20m pledged for 'affordable' homes by social landlord

A social landlord has committed to spending £20 million on building new 'affordable' homes over 2015-18.

Peaks & Plains Housing Trust's (PPHT) announcement follows its successful bid for £3.8m in funding from the Homes and Communities Agency. The trust will supplement the additional £16.2m from its own funds.

PPHT intends to build 170 homes in the Cheshire East and High Peak areas by 2018. It additionally plans to buy 80 homes from private developers, which will be offered to local people at 'affordable' rent levels.

Nigel Bennett, PPHT's assistant director of partnerships, said: “With house prices and rental costs so high in this area, there is a desperate need for high quality, affordable housing for local people. We are delighted to have received the full amount of funding that we bid for, which will help us to provide at least 250 new homes by 2018.”

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