Decision Maker: Director: Housing and Landlord Services
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
Brighter Places have reviewed the financial
viability of both developments and are using a combination of
tenure change, increasing internal subsidy and Homes England Grant
funding to maintain delivery. Seven social rent units at Lower
Ashley Road are being flipped to Shared ownership, which is not
funded under BCCs AHFP. This releases £246,000 of BCC funding
from the approved allocation of £1.4m to deliver 31
The St Johns development of 36 Passiv Haus affordable homes is showing a significant viability challenge due to increasing build costs, the transfer of funding will greatly assist in securing the delivery of this development and is part of a suit of additional funding resources to support the development. The revised development will receive a total of £1,356,000 and will see Affordable Rents switched to Social Rent with a significant improvement in affordability.
The development appraisal for the site has been scrutinised by BCC and Homes England.
This movement of funding ensures no loss of AH delivery for the city.
To approve the movement of £246,000
capital funding, awarded under the Council’s Affordable
Housing Funding Policy for affordable housing delivery between two
Brighter Places development. Funding will be moved from Lower
Ashley Road to the St Johns development to ensure the viability of
the St John’s development.
Option 1 - The £246,000 released from
the Lower Ashley Road could have been released back into the AHFP
budget and re-allocated to a new development. This however would
leave Brighter Places a significant shortfall at St Johns and
jeopardise the delivery of 36 Passiv Haus affordable homes
Option 2 -
Option 3 -
Publication date: 25/05/2023
Date of decision: 23/05/2023