£118m investment planned for new city housing
City of Wolverhampton Council is set to invest more than £118m in new homes over the next five years.
A report going before the council’s cabinet next Wednesday will ask for approval through the Housing Revenue Account Business Plan to fund development schemes across the city.
As well as £118.7m set aside for new build development, the capital programme for 2022/2023 to 2026/27 also includes £42.6m for estate remodelling, such as New Park Village, £50.4m to complete the refurbishment of the Heath Town estate, and £79.8m for improvements to high rise estates such as fire safety, infrastructure replacement, retrofitting of sprinklers and external works.
Cllr Bhupinder Gakhal, cabinet member for City Assets and Housing, said: “This report demonstrates the council’s continued commitment to balancing the provision of new homes for rent, while continuing to invest in better and safer homes programmes for the existing housing and improving and redeveloping housing estates across the city.
“We have major plans on site or planned across Wolverhampton, providing great places to live and building communities where everyone has the chance to benefit from new opportunities.
“The Housing Revenue Account Business Plan outlines hundreds of millions of pounds over the next five years and it will be monitored quarterly and reviewed annually to ensure the plan remains robust and we deliver on the proposals.”
The plan also includes £4.5m for the refurbishment of Bond House, a council owned city centre commercial building that will be converted into 34 units of supported accommodation and services for single people with a history of rough sleeping and homelessness.
