These will be sourced from those already on the council’s Homeseeker Plus housing allocations system, with priority given to local residents as well as key workers important to the local community, such as teachers and nurses.
Typically, affordable rental properties are let with a 20% discount on market rent, but we have devised a model that enables us to offer discounts up to 40% of the current market rent.
Dominic Hare, Blenheim’s Chief Executive, said:
“This is a wholly new approach to the concept of truly affordable housing. Our aim is to provide high quality homes at prices which will enable people to live and work locally.
The housing market is now reaching a point where it is virtually impossible for many people to be able to live and work in the same area. Unless we look at radical solutions we will be faced with a potentially catastrophic outcome for our local communities and the local economy.
One of the biggest issues facing this region is that young people growing up here have little meaningful prospect of being able to afford to live here.
We would like to thank Pye Homes and West Oxfordshire District Council for their help and assistance. We hope this will be a catalyst for change and encourage other developers to look again at what is possible."
As part of our new development, we will retain ownership of the properties to ensure they remain affordable in the future. Our Long Hanborough development is due to be completed by the middle of 2020 and will incorporate 169 new properties, as well as a new doctors’ surgery and a variety of other local amenities.
“We are also looking at ways to encourage a multi-generational mix of residents so extended families can potentially remain close to each other,” added Dominic.
As part of our 10-year development plan, we are committed to housing at least 300 families in exceptionally high-quality and truly affordable homes.
The initiative is part of Blenheim’s 10-year programme that includes aims to triple the Estate’s contribution to the local economy, train over 100 new apprentices, become a net generator of green energy, and complete £40m of restoration works.