Thurrock Council has agreed to at least 1000 more homes on council owned brownfield sites. The council’s own development unit Thurrock Regeneration Limited (TRL) will develop the homes and in January the council agreed to support TRL to build 80 homes at Belmont Road, Grays.
Council leader Rob Gledhill said at a budget meeting that the council was undertaking an asset review to identify sites for development, but that TRL wouldn’t have to wait until sites became available.
Of the 1,000 homes, 350 will be ‘affordable’, with the council having first option on taking the properties in as council housing stock.
The scheme will be funded by loans secured by the council and then re-lent to TLR. Council officials estimate TRL will pay back the money including some profits.
Mr Gledhill said he was confident the council and tax payers would see a good return on the loans. However Thurrock Independent councillor Jack Duffin did not get an assurance that council land would be sold at market rates.