Commercial Finance
Glasgow considers £1bn housing plan
Glasgow councillors will this week be asked to approve a £1bn housing investment plan for the city.
If given the green light, the Strategic Housing Investment plan (SHIP) for 2017-2022 will then be submitted to the Scottish government.
The council said the plan could deliver 9,975 affordable homes, based on a £600.1m investment. It would also lever in a similar level of private finance.
However, it would require 10-40% more investment each year than resource planning assumptions provided for Glasgow.
All developers in the city with a development programme need to deliver the housing that they have committed to build timeously, unless there are valid reasons for developments slipping into future years, the report said.
Kenny McLean, the city council’s convener for neighbourhoods, housing and public realm, told the Evening Times that the council was committed to raising levels of affordable housing.
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“A five year plan such as this allows the council and our housing partners in the public and private sectors to plan ahead,” he said.