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.
Decision type: Non-key
Decision status: Recommendations Approved
Notice of proposed decision first published: 25/05/2023
Decision due: 23 May 2023 by Director: Housing and Landlord Services
Lead member: Councillor Tom Renhard, Cabinet Member for Housing Delivery and Homes Cllr.Tom.Renhard@bristol.gov.uk
Contact: Louise Baker, DLT Support Manager Place Email: email@example.com.