Labour-run Bristol City Council has officially launched its housing company with a mission to accelerate home building across the city and beyond.
Goram Homes is another way Bristol is responding to the national housing crisis and will help the city surpass Mayor Marvin Rees’ target of 2,000 new homes, including 800 affordable, built per year by 2020.
Over 200 people from the housing industry attended the launch event to find out how to work with Goram Homes. The first schemes, identified as Romney House in Lockleaze and Baltic Wharf Caravan Club Site will be joint ventures with development organisations.
Using a joint venture arrangement on development sites means the council shares in the financial returns from the project, which could then be re-invested to accelerate further development of new homes.
Councillor Paul Smith said: “Not enough new homes are built each year in Bristol to meet the demand and this results in high rents and escalating house prices.
“We are not interested in working with speculators who only want to make quick money and disregard people’s needs. The company will give the council greater influence over what is built and when so we can ensure developments provide good quality homes that best suit the needs of the local community.”
Mayor of Bristol Marvin Rees said: “The shortage of affordable housing is one of the biggest challenges facing the city and one that we tackling head on. Building quality housing is vital to making things happen in the city and improving the quality of life for the people who live here.
“I pledged that by 2020 we would be building 2,000 homes per year, 800 affordable and this is another step towards smashing that target.”