BBRC will invest in high quality homes that benefit the local community and regional economy for the long term.
The housing crisis has worsened in the last couple of years due to some challenging national policy constraints. In 2013 the number of total planning permissions for major sites of more than 10 dwellings was at 40% of the 2007 level. Moreover, in the same year 14,000 households were on the waiting list seeking an affordable home. (Source: Bristol City Council)
Out of all the largest cities in the UK, Bristol is second only to London as having the least affordable housing relative to local incomes. Notably there has also been a drastic decline in affordable homes from a peak of 561 being built in 2008/2009 to 103 in 2013/2014. (Source: Bristol Homes Commission)
The West of England LEP estimates that the housing needed to meet its growth targets is 80,000 homes and assessments have been made of up to 160,000 new homes to achieve a better balance in property values.
With a rush to achieve growth, there is a risk of low quality homes and communities. Future development needs to have a positive impact for local people within new and existing communities with decent local facilities, transport connections, low energy and sustainable social and economic patterns. Sufficient capacity and strong stewardship is needed to maintain a mixed and balanced range of tenure and ownership.
What will BBRC do:
We’ll work with investors to identify commercially viable opportunities to invest in the delivery of homes and communities.
We’ll work with projects to access investment aligned with project goals and funding requirements.
We’ll work with the community to ensure that their long term-term values and interests are represented.
If you want to be part of the solution for improving the West of England’s homes and communities, please contact us to find out more.