Wokingham Borough Council looks set to increase the supply of well-designed and sustainable affordable and private housing under innovative proposals to set up a local housing company.

At a meeting on Thursday May 26 the council's executive will consider a proposal to set up the wholly council-owned company to deliver new high quality homes in the borough. If agreed, the council could potentially invest £1.9 million and land into the company in the early years and would agree in principle to lend the company more money in the future.The proposal would see seventy-five new houses built over the next five years.

If approved, the aims of the company would include increasing the number of affordable houses being built, making sure new homes are well-designed and of a high quality, meeting the housing needs of vulnerable residents and speeding up house building during the economic downturn. The new properties would include homes for sale and for rent and many would be provided as affordable housing.

Under the proposals, the first homes would start to be built at the Hillside Park site in Shinfield later this year.  This development already has planning consent for nine 1-bedroom apartments for people with learning disabilities (plus staff accommodation) plus two 2-bedroom retirement bungalows.