The detailed business case for the company is set to be approved by Full Council in September and it will start trading shortly after. Work on the first phase of homes to be built is then expected to begin in spring 2017. Wolverhampton currently has sufficient land identified to meet projected housing targets but the council is eager to increase the rate of delivery.
Lesley Roberts, Strategic Director for Housing, said: “WV Living has never been needed more – and these are tremendously exciting times. Really good progress is being made in setting up the company. We have developed a legal framework and the first four sites have been identified. There is a strong belief that a council-owned housing company is both viable and offers the best outcomes for the council in terms of both strategic housing and income generation. Already we have plans for almost 400 homes to be built in the next two years. This will support the overall house building programme in Wolverhampton and we hope people will love their WV Living homes.”
Subject to planning approval, the first phase up to 2018, will see around 400 homes built on council-owned land at the former Danesmore Park Primary School site in Ashmore Park, former Wednesfield High School site, former swimming baths site on Prouds Lane in Bilston, and former Ettingshall School site.
A quarter of the homes developed will be set aside as affordable council homes.
Full surveys and reports are being gathered for all four first-phase sites.
Image caption: Strategic Director of Housing, Lesley Roberts, shows off the new WV Living logo