100 million pound housing investment confirmed

Published on 16th October 2018

Newly built houses near Springfields Park with crane visible in the background

Full council agreement to boost Cheltenham’s housing market

Cheltenham Borough Council has approved the 100 million pound boost to housing across the borough and will work with Cheltenham Borough Homes to deliver the homes to the community.

In March 2018 the council approved the Place Strategy for Cheltenham, which identified business growth and housing delivery as priorities. In particular, it sets out aspirations to increase the number of affordable, accessible, safe and secure housing and to build strong, healthy and inclusive communities. These aspirations were echoed in the Council’s housing and homelessness strategy, which was approved by cabinet in July 2018.

Cllr Peter Jeffries cabinet member for housing said: "I’m delighted that the council has approved the housing investment plan. This supports the council’s commitment to addressing issues such as the lack of affordable, high quality rented accommodation on secure tenancies as the growth of our local economy relies on a diverse and healthy housing market. We can now look at locations such as existing allocations, brownfield sites and the open market to deliver the project with Cheltenham Borough Homes."

Tim Atkins managing director for place and growth continued: "This is a positive step forward to achieve our ambition to grow Cheltenham’s economy. This initiative will bring significant investment in our town, tackle stalled and vacant sites; delivering homes across the whole housing spectrum, strengthening our communities, focusing particularly on accessibility for younger people."

Around 500 new homes have the potential to be provided and let through the £100 million investment. The council’s housing management organisation Cheltenham Borough Homes will be loaned the investment and will be delivering the ambitious scheme.

Paul Stephenson chief executive at Cheltenham Borough Homes said: “We’re delighted that this ambitious new plan to increase housing supply across the borough has been approved. It’s an exciting time for Cheltenham Borough Homes as we look forward to the launch of this new project; which is a great opportunity to build on our successful partnership with Cheltenham Borough Council to create strong communities where people thrive now and in the future.”

For media enquiries, contact: Jemima Lawson, communications officer, telephone 01242 264332, email communications@cheltenham.gov.uk