Our development programme
As you're aware, we're currently experiencing a worldwide pandemic known as COVID-19.
We, along with our contractors, have tried our hardest to maintain production on site, whilst at the same time maintaining a safe working environment for our staff and operatives in accordance with current Government guidelines.
However, we've now reached the stage where the level of uneconomic working is detrimental to the regular progress of the works, whilst at the same time we're unable to provide a safe working environment. Therefore, a number of our sites are closed and development progress has paused.
We hope to get back to developing high-quality homes soon.
Our development plans
We exist to realise the potential in our communities. One strand of this is to provide high-quality, truly affordable homes for our community.
Our development journey started in 2018 and by 2023, we hope to provide at least 375 new homes to support the delivery of much needed housing in Wycombe and the surrounding areas, with an aspiration to deliver up to 500.
Across the country, there's a demand for housing that people can afford, so our development programme has been designed to provide exactly that. By doing so, it will help address housing for all members of the community.
Our exciting development strategy, which was approved by Board members, 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.
Our plan is to build a range of different tenures, which will include a small number of outright sale homes. Our main focus will be to deliver affordable rented homes.
It's important to note that the proceeds we receive from sales activity will be used to build affordable housing. While our focus is to provide rented homes at less than 80% of market rent, we need to subsidise the construction of those homes (especially as construction continues to get more and more expensive). Local people will likely see that market rent and outright sale homes will be 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.
Our programme is ambitious but you can stay up-to-date on where our developments are and what we're doing, on the links below. You can also read our latest development newsletters:
Virtual Development Panel newsletter: Friday 3rd July 2020
Virtual Development Panel newsletter: Friday 19th June 2020
Virtual Development Panel newsletter: Friday 12th June 2020
Virtual Development Panel newsletter: Friday 5th June 2020
Our development pages are updated monthly, so please do check back for the most recent updates.
What do each of the tenures mean?