Latest news with #affordablehomes
BBC News
3 days ago
- Business
- BBC News
Cheltenham's Elms Park development approved by councillors
The development of a new town serving almost 9,000 people has been given the go-ahead by two local Elms Park development, near Cheltenham and just off junction 10 of the M5, is expected to be developed in phases over 20 plans were approved by Tewkesbury Borough Council and Cheltenham Borough Council on Thursday, despite strong fear the development, which features 4,115 homes, almost 60 acres for employment land, a hotel, shops, cafes, restaurants, pubs and takeaways, will have a "disastrous effect" on the area. More than 100 people and seven nearby villages objected to the proposals, according to the Local Democracy Reporting fear the development, off the A4019 Tewkesbury Road near Uckington, will lead to a huge increase in traffic and pollution, as well as overwhelming health also raised concerns about the design and appearance of the housing developments, road safety, parking concerns, flood risk, overlooking and that the scheme conflicts with planning policies. However, Elms Park Consortium, which is led by housebuilders Bloor Homes and Permission, say the £2.5bn scheme will provide 1,000 affordable homes and up to 4,000 jobs will be created, including 30 apprenticeships per year during White, agent for the applicant, also told the meeting: "Approximately £25m will be spent on community infrastructure, including a GP healthcare centre, neighbourhoods and local community centres delivered on site."He said there would be sports facilities and a transport hub, including a 350 space park and ride planning committee voted unanimously to approve the scheme.
News.com.au
3 days ago
- Business
- News.com.au
The $500 ‘whole of Australia' solution to housing ‘disaster'
It's a small donation that could generate more than $1 billion in social housing. A social enterprise tackling the housing crisis is calling on home sellers and developers to do more to alleviate the desperate need for more social and affordable homes — and it could cost them as little as $500. Homes for Homes, created by the Big Issue, has just signed a deal with the Queensland government and registered its first Queensland developer. The not-for-profit enterprise provides a scalable and sustainable funding model for using small donations made during the sale of a property. When a property registered with Homes for Homes is sold, 0.1 per cent of the sale price is donated to the organisation. These funds are then distributed as grants to community housing providers, who use them to build or acquire homes for people in need. The donation is voluntary and the covenant can be removed at any time. On a $500,000 property, it amounts to $500. On a $1m property, the donation would be $1000. More than $2.5m has so far been granted, creating over 300 homes across Australia, with hundreds more projected to be built in the coming years. If just 5 per cent of Australia's properties were registered, the program could generate over $1 billion for social housing over 30 years, according to modelling by SGS Economics & Planning. Homes for Homes Queensland partnerships manager Mia Bannister said De Martini Fletcher had just registered it's project of 88 luxury apartments in Stones Corner, Corner House — a first for a developer in the state. Ms Bannister said Economic Development Queensland had also signed a memorandum of understanding with Homes for Homes to begin working with the organisation. 'What I would like to see is Homes for Homes getting written into prority development areas as an option for developers to use,' she said. 'We have so many priority development areas out there — Waraba, the ' homes for thousands and thousands of people.' But Ms Bannister said the take-up of the initiative had been slower than she had hoped. 'Being a charitable organisation, I think people push us down to the bottom of the pile of things to do, so it's trying to change that mindset that we're a solution to a problem that's everybody's problem,' she said. 'It's a whole of Australia solution really because what does it really cost you to register your home? Nothing, but it's trying to change that mindset. 'The deficiency of social and affordable homes in Australia is projected to be more than one million by 2026, so that's disaster.'
Yahoo
4 days ago
- Business
- Yahoo
Council backs next stage of major housing plan
A plan to build 278 new homes has been approved by councillors as part of a larger housing development. The homes, approved by West Northamptonshire Council, will be built on land between Harpole and Duston in Northampton, as part of the second phase of the Norwood Farm project. In total, the wider project will deliver 1,900 homes, along with shops, a school, and public green spaces. The decision was made during the first planning meeting since Reform UK took control of the local authority at the recent local elections. The latest plans include a mix of one to four-bedroom properties and of the 278 homes, 139 will be affordable. Planning officers said this was 92 more affordable homes than the developers were required to provide. According to the Local Democracy Reporting Service (LDRS) each home will have its own parking space, and extra visitor spaces will be added along the roads. Green areas are also planned around the edges of the site. The area covered in the upcoming phase is in the north-west part of the Norwood Farm site and is divided by New Sandy Lane. Follow Northamptonshire news on BBC Sounds, Facebook, Instagram and X. Plans for 120 homes in urban extension approved West Northamptonshire Council Local Democracy Reporting Service
BBC News
4 days ago
- Business
- BBC News
West Northamptonshire Council backs next stage of Norwood Farm
A plan to build 278 new homes has been approved by councillors as part of a larger housing homes, approved by West Northamptonshire Council, will be built on land between Harpole and Duston in Northampton, as part of the second phase of the Norwood Farm project. In total, the wider project will deliver 1,900 homes, along with shops, a school, and public green decision was made during the first planning meeting since Reform UK took control of the local authority at the recent local elections. The latest plans include a mix of one to four-bedroom properties and of the 278 homes, 139 will be officers said this was 92 more affordable homes than the developers were required to to the Local Democracy Reporting Service (LDRS) each home will have its own parking space, and extra visitor spaces will be added along the roads. Green areas are also planned around the edges of the area covered in the upcoming phase is in the north-west part of the Norwood Farm site and is divided by New Sandy Lane. Follow Northamptonshire news on BBC Sounds, Facebook, Instagram and X.
Khaleej Times
25-05-2025
- Business
- Khaleej Times
In-house construction by developers can cut property prices by up to 25% for homebuyers
The rising cost of construction is a significant factor in determining property prices, making it increasingly difficult for developers to deliver affordable homes while maintaining profitability. Developers who take control of the construction process — rather than relying on external contractors — can reduce property prices by as much as 25 per cent. This reduction is not a matter of cutting corners but reflects a more strategic, controlled approach to development that benefits both developers and end users. Eliminating contractor markups reduces build costs When developers depend on third-party contractors, they are subject to the additional costs that contractors add for their services, which include labour, material procurement, and project management fees. Such costs often escalate, pushing the final price of the property upward. Developers can avoid these markups when handling construction in-house, allowing for significant savings that are passed on to buyers. Faster timelines reduce holding costs and exposure to market fluctuations In-house construction also allows developers to shorten project timelines. With greater control over the construction process, developers can streamline schedules and avoid delays that often occur when coordinating with external contractors. External contractors may juggle multiple projects simultaneously, leading to resource constraints and delays. In contrast, an in-house team focused solely on one project can ensure that work is completed more efficiently and on schedule. Construction speed has a direct impact on a developer's bottom line. By reducing construction timelines, developers can lower holding costs — the expenses incurred while waiting for a property to be completed and ready for sale. On top of that, faster delivery mitigates exposure to market fluctuations, as developers are not left holding properties for extended periods, during which prices may rise or fall. The result is greater financial predictability and stability in a volatile market. Greater control over quality and materials A significant advantage of in-house construction is the increased control over the quality of materials used and the standard of workmanship. When relying on third-party contractors, developers may have limited oversight over the choice of materials, leading to compromises in quality or unexpected costs due to the use of lower-grade materials. In-house teams provide developers with more flexibility to select the best materials within budget, ensuring that the final product meets the desired quality and durability standards. Price stability despite market fluctuations The real estate market is known for its volatility. Construction costs are subject to fluctuation, influenced by factors such as raw material prices and external economic events. Developers who rely on external contractors are often at the mercy of these market changes, as contractors adjust their fees to accommodate rising costs. Unpredictability makes it difficult for developers to maintain consistent pricing, which can affect both the sales price of properties and the developer's bottom line. In-house construction means directly sourcing materials, negotiating prices with suppliers, and coordinating internal teams, locking in costs and maintaining stable pricing for the duration of the project. The ability to manage costs provides price stability, even when the market experiences unexpected shifts. Building trust with buyers and investors Transparency and control are key factors in fostering trust with homebuyers and investors. In-house construction allows developers to demonstrate their commitment to quality and project timelines. In addition, developers who handle construction in-house are able to build stronger relationships with buyers, who can have greater confidence in the process. Buyers know that the developer has direct control over the quality and delivery of the project, which is a significant advantage in a competitive market. In-house construction is not just a cost-saving measure. It is an innovative approach that is reshaping the real estate development landscape, ensuring that both developers and buyers benefit from stronger financial outcomes and more sustainable growth. The writer is Executive Director, TownX, a real estate developer in Dubai with a Dh4 billion project portfolio.
