Our Development Programme
By 2023, Red Kite will provide at least 375 new homes to support the delivery of much needed housing, with an aspiration to deliver up to 500.
We know that across the country, there is a demand for housing that people can afford, so our development programme has been designed to provide exactly that and by doing so, it will help address housing for all members of the community. Our exciting Development Strategy, which was approved by Board members that include Red Kite customers, sets out how we plan to achieve these 375 homes, which includes the scope to build a small number outside of the immediate area. While the majority of new homes will be built in existing Red Kite communities, we can also provide up to 30% on any appropriate sites that may arise and are considered to fit with our general requirements and purpose. Any homes that we decide to develop which arise outside of the Wycombe district will never be more than 30 minutes’ drive from the centre of Wycombe or our current offices.
Should the current local district council structure change from the existing 3 district councils to one Unitary Authority we will see a change to existing Wycombe boundaries.
Our plan is to build a range of different tenures which will include a small number outright sale homes but our main focus will be to deliver affordable rented homes. The proceeds we receive from any sales activity will be directed at building affordable housing which is expensive to build. With a large number of planning applications already submitted and some already approved, we are now well on the way to delivering our development aspirations for the community. While our focus is to provide rented homes at less than 80% of market rent, we need to subsidise the construction of those homes, so local people will likely see that market rent and outright sale homes will be the first to be approved. This helps with funding our development work and we’ve done this so that a surplus can be generated to pay for the deficit that is incurred when building affordable rented homes, some of these homes (social rented homes) require a subsidy of up to £86,000 per home. The level of cross-subsidy that we get from other tenures, like outright sale and market rent, means that because they deliver a return on investment over time, they generate the financial resources we need to build affordable/social homes.
Here is our plan for new homes across the district:
Take a look at the specific plans for each on our website on the left hand side – information will be shared as and when it is available.
What do each of the tenures mean?
Now that we’ve told you what kind of homes we’ll build and where, here are some short, useful videos that explain what each of the tenure types mean