September 21 2014 Latest news:
Friday, October 19, 2012
Economic boost for area as private developers sit-out the recession but housing needs increase
West Norfolk Council is looking to build hundreds of new homes in King’s Lynn as private investment has dried-up in the recession.
The council could join with a development company to build 500 to 700 homes to create new jobs and generate millions of pounds for the local economy.
The council aims to build the homes over four years, with all the allocated 15pc of affordable properties in one site off Columbia Way, North Lynn.
“The council’s housing teams are seeing more people struggling to secure private rented homes because supply cannot meet demand,” says a report due to go before members of the regeneration, environment and community panel on Wednesday.
The partner developer would be expected to sell as many of the new properties as possible while the rest would be rented.
Members of the panel will be told that council officers feel it “unlikely that anyone would be willing to buy our land and develop it.”
Sites earmarked for the proposal are Marsh Lane, Columbia Way and Saddlebow Road along with the Puny Drain, West Winch.
It is hoped the scheme will provide opportunities for apprentices to be taken on during the construction phases.
“For the scheme to deliver the benefits outlined in the report, the number of units should not be less than 500,” says the report.
The 2011 census has indicated a population increase of 9pc for West Norfolk and the area has high levels on in-migration, particularly of ‘retiring households’ members will be told.
The council’s cabinet will be asked to approve £30,000 to develop the project.