Eastbourne Borough Council and Lewes District Council are to create a jointly owned housing investment company to help address the shortage of housing and bring forward regeneration opportunities in both towns.
This step, agreed by Cabinet last night (13 December 2016), follows on from the success of the Eastbourne Housing Investment Company (EHIC) that was set up in May 2015.
EHIC has delivered more than 100 affordable homes in Eastbourne and has attracted the attention of local authorities from across the region, keen to replicate the investment model in their districts and boroughs.
Councillor Alan Shuttleworth, Cabinet Member for Housing, said, “This is a very important development for both authorities.
“We know that there is a real shortage of housing and we want to bring forward developments that provide more housing and at the same time help to improve our town and promote economic development.
“By combining our resources and expertise, rather than acting alone, we will be much better placed to achieve new property developments and commercial opportunities in Eastbourne and Lewes.”
Consultation with Lewes District Council has also taken place and agreement reached on developing a joint housing investment company.
Councillor Shuttleworth added, “Our closer relationship with Lewes District Council is proving hugely beneficial for local services and local people.
“This latest initiative is welcome evidence that our cooperation will continue wherever our residents can be better served by working together.”