Orbit Group ‘open to discussions’ as it sets 12,000 homes target
Orbit Group today announced plans to build 12,000 new homes by 2020 and called on local authorities, developers, construction companies, land agents and investors to help deliver that ambitious target.
The 38,000 home housing organisation has already identified funds to deliver around 8,000 homes over the next seven years. Now its development arm, Orbit Homes, is exploring how to add another 4,000 to take its annual total to around 2,000 by 2020.
The target has been set as part of Orbit’s wider 2020 vision, including £30m of community investment, providing 10,000 training and job opportunities, training 20,000 residents in financial and energy advice and achieving an energy rating of Band C on all homes.
Paul High, Executive Director of Orbit Homes, said: “A shortage of housing if one of the biggest challenges this country faces and our Boards and Executive Team have set a truly ambitious target to address that.
“We know we are not going to be able to achieve this alone. So we are keen to start strategic conversations with our key local authority partners, developers, construction companies, land agents and investors so that we can innovate and collaborate.
“By 2020 we aim to be a broad-based housing company providing a full range of products to a wider market than we do today, with the focus on need but also on aspiration. Having a target so ambitious is really exciting and stretching.”
Milestones within this target will include reaching an annual output by 2016 of more than 500 homes for rent, 275 shared ownership and 300 market sale, with market sale totals rising to 500 by 2020. Orbit is also exploring private rental opportunities, as well as new models of housing such as shared equity and shared ownership.