Home  > What we deliver > Housing

Housing

The Combined Authority has a budget of £170 million from Government to empower delivery of an ambitious housing programme providing 2,500 new affordable homes by March 2022.

Project summary

In 2017, the Combined Authority successfully negotiated £170 million from Government for delivery of an ambitious housing programme providing 2,500 new affordable homes by March 2022. Within this programme, £100 million is available across the Combined Authority area to deliver 2,000 affordable homes and £70 million is available to Cambridge City Council to deliver 500 new council homes.

Key statistics

• 1914 units approved since the start of the project
• 694 starts on site and 237 units completed to date
• On target for 2,500 new affordable home start on site by March 2022

Delivery

The affordable housing programme is on track to deliver 2000 new affordable houses by March 2022. Of the £100 million fund, £60 million has been set aside for grant funding and £40m has been allocated as investment in housing delivery initiatives that seek to recycle the funding instead, known as the £40 million revolving fund. £35 million is currently employed as loan funding and the funds are recycled and re-invested into other housing opportunities, including joint ventures.

Innovation

The Revolving Fund concept is a Mayoral innovation that we believe is unique to the Combined Authority, as most Affordable Housing Programmes focus solely of distributing grant funding. A wholly owned subsidiary company, Angle Developments (East) Limited, has been established which will enable the Combined Authority to deliver its own projects and enter into joint ventures with other public sector partners and developers that are focussed on accelerating housing delivery.

Partnership

The Housing team are developing partnerships with a range of organisations to ensure the Combined Authority can award grants to registered providers and not-for-profit organisations to bring forward development. The key partners to the £40 million revolving fund element of the programme are developers utilising loan funding, joint venture developers that aspire to deliver affordable housing, and partner authorities who want to explore developing surplus assets from their portfolios.

Cambridge City Council is best placed to deliver the £70 million Affordable Housing Programme. The Combined Authority maintains overarching accountability for the programme, even though the primary decision-making and governance of the programme sits with the Cambridge City Executive and its Scrutiny functions.

Good News

The additional housing that is being built will provide affordable, shared ownership and socially rented units for people across the region. New affordable housing, including large developments such as Northstowe will also help establish a larger and wider housing base to support the economic growth of the area, whereas growth in existing market towns across the Combined Authority such as March and Whittlesea will enhance this.

You can get in touch with our housing team via our Contact Us page.

Our Housing projects

Current Housing Projects

See the current housing projects that we have underway, and find out more about the developments.

Find out moreClick for Current Housing Projects

Affordable Housing

Our affordable housing programme is empowering developers across the region to include a wider proportion of affordable homes that could not otherwise be built.

Find out moreClick for Affordable Housing

£100K Homes

Click here to for the latest £100K Homes Update.

Find out moreClick for £100K Homes

Share to Buy

Share to Buy is a national property portal which specialises in helping first time buyers onto the property ladder.

Find out moreClick for Share to Buy

Community Led Housing

The Community Led Housing team support communities across Cambridgeshire and Peterborough to deliver their own affordable housing.

Find out moreClick for Community Led Housing

Angle Developments

The creation of the Angle Developments Ltd company allows the Combined Authority to accelerate housing delivery

Find out moreClick for Angle Developments

For Developers

The Combined Authority can invest in schemes within Cambridgeshire and Peterborough via grant or loan, as long as schemes will start on site by 31 March 2022.

Find out moreClick for For Developers

RELATED NEWS

Read the latest Housing news

Latest News 07/07/2021
Community Led Housing

Affordable housing for Great Staughton takes a step forward as plannin…

Read More Read more of Affordable housing for Great Staughton takes a step forward as plannin…
Latest News 25/06/2021
Community Led Housing

Construction work starts on the long awaited 21 almshouses in Great Sh…

Read More Read more of Construction work starts on the long awaited 21 almshouses in Great Sh…
Latest News 21/06/2021
Community Led Housing

Rebel Acres Co-operative to receive £5,000 under the Community Housin…

Read More Read more of Rebel Acres Co-operative to receive £5,000 under the Community Housin…
Latest News 21/06/2021
Affordable Housing

£16,788,750 grant funding approved for affordable housing across Camb…

Read More Read more of £16,788,750 grant funding approved for affordable housing across Camb…