Progressive Alliance plans to develop more genuinely affordable housing for local families will move a step closer next week when a leading cabinet member will take a decision to establish a new local housing company as a subsidiary of Milton Keynes Development Partnership.
Cllr Rob Middleton will take the next step to create a council-owned developer to build more genuinely affordable housing for local families in Milton Keynes.
MK Council are committed to developing hundreds of genuinely affordable homes, including council housing, affordable rents and other low-cost affordable housing, as well as implementing high design and sustainability standards.
The company will have affordability and sustainability as its main aims and will at first use council-owned land to develop the homes.
Councillor Jenni Ferrans, Chair of the Communities and Housing Committee said: "This decision will free up land from commercial housing to be used for housing that is actually affordable for the people of Milton Keynes - not just the Conservative Government's idea of "affordable". Too many people are being priced out of the market so that developers can make a profit.
"The profits of this company will be ploughed back into the housing and services that Milton Keynes needs."
Councillor Rob Middleton, Cabinet Member for Resources, said: "The Progressive Alliance wants Milton Keynes to be a place where local families can live in good homes that are genuinely affordable - the Local Housing Company will help make this a reality."
"Milton Keynes Council is very fortunate to own land, and rather than sell it to developers, creating a Local Housing Company will allow us to prioritise local families, affordable homes and social value, making sure it really delivers for the people of Milton Keynes."
Councillor Middleton concluded: "Affordable housing is at the heart of our Council Plan, and I'm pleased that this decision will help us achieve even more good-quality and affordable homes in our borough."