WEST NORFOLK: Freebridge plan to buy ex-council homes
Former council houses could be bought back if a housing association’s plan comes off.
Freebridge Community Housing Association is looking to increase its stocks and build new affordable homes by buying up two and three bedroom houses which are up for sale. These are predominately in former local authority areas.
It has asked West Norfolk Council for £200,000 to go towards the costs of buying 10 homes.
Councillors have been recommended to approve the plan, which will be discussed by the regeneration, environment and community panel tomorrow.
The council would receive an annual five per cent return with the full investment returned in five years.
Freebridge chief executive Tony Hall said his team was committed to meeting the area’s housing needs
He said: “Our proposal with the council would provide us with a new approach to providing affordable housing.
“We are working with the council to see whether by agreeing a finance plan with them, we can increase the housing we have available for rent. In this way, we would also help to generate movement in the local housing market. We do not currently know where this housing will be specifically in the borough but it will be where there is both opportunity and housing need.”
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Weather for King's Lynn
Saturday 25 May 2013
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Temperature: 5 C to 13 C
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