A proposal to build a 1000 new homes over the next 10 years in Northampton was approved by Northampton Borough Council's Cabinet on Wednesday 21st February.
NPH put forward a scheme that will allow additional funding to build more homes. This will increase NPH’s options to build more homes for people waiting on the housing register and in need of housing.
We are looking to progress the scheme over the coming months, working closely with the Borough Council.
Our chief executive Mike Kay said:
“The way council housing is funded is restrictive, so we soon realised that a one-size-fits-all approach would not deliver anywhere near the amount of affordable housing needed in Northampton.
"We’ve worked with the Council on a scheme that will enable us to access additional funding through a newly created independent charitable society that benefits from stamp duty relief and corporation tax exemption. At the same time, we will use all proceeds from Right to Buy Sales and establish new opportunities with developers.
“NPH is already delivering a number of new affordable homes across the borough. We are truly excited at the prospect of being able to build significantly more homes in the future. We know how much this housing will mean to the people of Northampton now and in the future”.