Combined Authority Committee approves funding for affordable homes projects
At the Housing & Communities Committee meeting on 14 November 2022, a recommendation that funds of £1,656,000 be used to support existing housing projects in Fenland, Huntingdonshire and Peterborough was unanimously approved.
Heylo, who offer part buy – part rent opportunities across England, will work with housing developers to provide an additional 46 affordable 2-3 bedroom homes, all of which are currently in construction with an estimated completion date of November 2023. These units will replace the 39 units lost from Bretton Court in Peterborough after the project was no longer able to proceed.
Speaking of the approval, Councillor Lewis Herbert said “At the Combined Authority we know how important it is to have a wide choice of affordable housing, and just how difficult this has become for many members of our communities to afford to purchase outright. Our programme will assist the completion of over 1400 new affordable homes within the next few years. Everyone has the right to a decent home, and the Heylo option of renting and later buying provides plenty of choice should people’s income increase as the economy recovers. We look forward to the completion of these 46 homes late 23, gap funded by the Combined Authority, and to welcoming new families who will have the option to move on to home ownership in the future.”