800 homes planned through creation of council housing company

THE City of Wolverhampton Council is set to deliver around 800 homes over the next four years through its new housing company, WV Living.

The plan will go before a meeting of the full council tomorrow for approval.

WV Living will borrow from a £40m pot of council loans which will be repaid from income made through the sale and rental of homes. 

Wolverhampton currently has sufficient land identified to meet projected housing targets but the council is eager to speed up the building of homes.

Subject to planning approval, the first phase up to 2018, will see around 400 WV Living 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.

Deputy leader Cllr Peter Bilson said: “The aim is to boost the new-build housing market in the city and a very prudent approach has been taken to the WV Living business plan.

“It is not there to compete with private sector developers but to add to the housing offer in the city by identifying alternative sites.

“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 strategic housing, income generation, jobs and training opportunities.”