South Kesteven District Council is seeking developers to help it build a further 13,500 homes in the district, including 1,300 at Stamford North
A council committee has voted in favour of seeking developers to help increase the number of homes being built.
South Kesteven District Council needs to oversee the construction of a further 13,500 homes in the next 16 years.
It already has large sites earmarked for development, including Stamford North, which straddles the border with Rutland on the edge of Stamford, and could have 1,300 homes.
Nearly 8,000 homes could be built at the Spitalgate Heath and Prince William of Gloucester Barracks sites near Grantham.
At a meeting of its companies committee this week, the district council considered four options.
These were: ‘doing nothing’ - in other words allowing the housing market to develop at its own pace; building social housing - the council has already discussed making a £60m investment in constructing 500 council houses over the next five years; entering into site-specific agreements with developers interested in building on parcels of land; or entering into a single ‘joint venture investment partnership’ in which the council shares with one company the risk - or the spoils - of being a property developer.
Committee members voted unanimously in favour of the recommended option, to enter into site-specific partnerships. This will now need to be agreed by the council’s cabinet and ratified by the full council.
More by this authorSuzanne Moon