Corby Council has adopted a new housing development strategy as it sets about building new council homes for the town.
Councillors on the town’s One Corby committee approved the plans last night (Tuesday) which will see it add to its 4,719 stock with new homes across the borough.
The homes will be paid for through a mix of borrowing, grants and right to buy receipts.
The council will borrow 70 per cent of the property costs and the remaining 30 per cent will come from grants from Homes England and right to buy receipts.
The authority has not specified in the strategy how many homes will be built in total but has said the new homes will be developed on council-owned land or on land it buys for affordable housing development.
The council’s development programme manager Tahir Majid told the committee that a number of one and two bedroom properties will be built to satisfy the high demands.
Speaking at the meeting Cllr John McGhee, who represents the Kingswood area, said he welcomed the development and ‘hopes that regeneration inside Corby continues’.
In the past five years the council has lost 226 homes from its housing stock under the right to buy scheme.
The scheme, which was introduced in the 1980s, allows council tenants to buy their home at a reduced rate after a number of years of living there.
Cllr Bob Eyles, who represents the Lodge Park area, said it was ‘about time the right to buy scheme ended’ and that a new homes building programme was good for Corby.
The Corby authority has built 197 new homes in the borough in the past ten years.
It is currently working with a homes builder to create 20 new three and four-bedroom properties in Stanion Lane.
A new development of affordable homes on the former Kingswood School site in Gainsborough Road has also been recently opened.
The authority is planning to redevelop a number of empty garages across the town into small flats with schemes approved for the Kingswood and Lodge Park estates.
The strategy will go to the next full council meeting for final approval.