Housing Asset Management Strategy 2019 - 2024 - Report - Page 14
Redevelopment and new build
Redevelopment
Redevelopment and adaptation work have been valued at an expected £55.9m investment
over a 30-year period which can be viably funded through the HRA. This ranges from
conversion and upgrading of unpopular bedsit accommodation to conversions of larger
older properties which are no longer fit for purpose.
We have commenced a review of our stock which has seen one of our retired living schemes
set to close in 2019 due to the level of investment required and its unsuitability for affordable
housing.
We will also be commencing a review of our Retired Living complexes to ensure they meet
the future needs of East Suffolk which has a predicted increase in its ageing population.
Redevelopment also relates to the purchase of financially viable properties throughout the
district that could be upgraded or converted to meet a specific housing need. This allows
the Housing Service to intervene and act to remedy problematic vacant properties working
closely with our Private Sector Housing Team and using compulsory purchase options where
appropriate.
Renovation of an HMO in Lowestoft
New build
The Council has initiated a programme of land acquisition and new build development to provide additional affordable homes. This has
identified funding of £47m to 2023. The programme combines HRA funding with funds from other sources. Longer term the Lowestoft and
Outer Harbour regeneration proposals are expected to provide a significant opportunity for the development of further affordable homes.
In 2017/18 a total of £2.6 million was invested in purchasing and developing brownfield sites with a further £1.8 million in the first 2 months
of 2018/19. An additional £8.8million is available for 2018/19. Further to this a budget of £23.7million has been set aside for brownfield site
developments during 2019/20 and 2021/22.
Our future staffing and maintenance budgets will be regularly reviewed to account for increased stock levels from new build developments.
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