Liverpool City council to establish housing company

Liverpool City Council has announced plans to set up an ethical housing company to deliver 10,000 new homes across the city, including bespoke properties for the homeless, foster carers, large families, the elderly and people with a disability.

To be named Foundations, the £500 million investment programme plans to ‘dramatically shake up the city’s housing market and accelerate the rent to buy sector over the coming decade’.

Currently, Liverpool is reported to require 27,000 new homes by 2030. Therefore, Foundations will utilise council owned land and refurbish vacant stock, and is one of the main pledges by Mayor Joe Anderson who wants to revolutionise the council’s housing role to bolster home ownership.

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.

“But we also need properties that help us face the future. This new housing company will radically reshape Liverpool’s housing market and is called Foundations because that is precisely what it will provide for generations of people. Foundations will also help the council benefit from the additional Council Tax we collect from increased housing, like we have already with the 8,000 homes I created in my last mayoral term.

“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.”

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