Clarion Housing Group is teaming up with the Cambridgeshire and Peterborough Combined Authority and a number of housing associations to deliver up to 40,000 affordable homes over the next 20 years.
This unique collaboration between the housing alliance, called Homes for Cambridgeshire and Peterborough, and Cambridgeshire and Peterborough Combined Authority will use part of this grant to build housing of mixed tenure, including affordable rents. This will ensure homes are suitable for people on a range of incomes. They will start by building at least 2,000 additional affordable homes by 2021.
Sue Cocking, New Business and Partnerships Director for Clarion Housing Group said: “Clarion has a long track record of developing much-needed homes in the East of England. We are very exited to be part of this new partnership, which will help us to become even more of a powerful force in the region.”
The need for affordable housing in this area has never been greater. According to the Home Truths 2016/2017 East of England report, Cambridge is the third most expensive place to buy a home in the region. The average house price in Cambridge is nearly 17 times the average local salary. Yet in the five years between 2011 and 2015, over 2,000 too few homes were built in Cambridgeshire and 869 too few homes were built in Peterborough.
Homes for Cambridgeshire and Peterborough collectively own and manage 48,277 homes in the Cambridgeshire and Peterborough area. Every year, the housing associations involved add almost £100 million to the local economy and support over 1,000 jobs.
As part of this new deal, they will match every £1 of the Combined Authority’s investment with up to £6 of their own.
Find out more information about homes in Cambridgeshire and Peterborough by downloading this brochure.