The city council’s proud legacy as a provider of new homes for Norwich residents continued its onward journey last night after cabinet approved the latest plans to deliver 76 new homes.
The homes will be built at the Threescore site in Bowthorpe - 52 of which will be new council homes with the remaining 24 to be sold privately.
Cabinet members also endorsed the 2022-23 business plan for Norwich Regeneration Company, the housing development company wholly owned by the council, which has seen strong sales across all its new homes at the same Bowthorpe site.
Cabinet heard how sustained activities in 2021-22 enabled the company to achieve a complete operational transformation and turn round of the company to allow it to continue with its ambitious plans to provide high quality homes for the city and erode its historic losses.
Looking to the future, Norwich Regeneration Company was invited to undertake work on the design, feasibility and phasing of a possible new fourth phase of development for the company on the Threescore site. It will also look at further work to identify other sites for residential development that may form part of the company’s pipeline in future years.
Following last night’s endorsement of the business plan, Mike Stonard, chair of Norwich Regeneration Company, said:
“It’s thanks to improved governance arrangements and operational processes that the company has made incredible strides in stabilising its financial position and is now profitable and thriving, which means it can continue to deliver on its ambitions to provide more much needed homes for the city.
“The company still recognises of course the financial challenges it faces, particularly in light of the difficulties caused by the pandemic and the impact on the construction industry which was badly affected by supply delays and market uncertainties.
Councillor Paul Kendrick, cabinet member for resources added:
“This latest green light reflects the council’s continued position to support and invest in the Norwich Regeneration Company.
“It’s extremely encouraging to see how far they have come to make sure they can continue on the journey to build high-quality, eco-efficient homes.”
At the same meeting, cabinet awarded the contract to R G Carter Ltd to build 52 council homes on the Bowthorpe site. The final design for this build phase of the site is for a total of 76 homes – 52 of which are earmarked for council homes with the remaining 24 to be delivered via a separate contract as homes for open market sale through the Norwich Regeneration Company
Councillor Gail Harris, deputy leader of the council and cabinet member for housing, said: “I’m thrilled that further homes will be built at this developing community in Bowthorpe to help meet the growing need for social housing in the city.
“What’s even more encouraging is that they will be built to the highest environmental standards which will also help to provide future protection for tenants against rising energy bills. I’m very much looking forward to seeing these new homes take shape and welcoming in new tenants in 2023.”