Tackling the city’s housing imbalance
Foundations will work to ensure that Liverpool’s continuing economic growth helps to unlock greater housing diversification in the city. The city needs to ensure that its housing infrastructure and offer is capable of attracting and retaining greater numbers of economically active households who may otherwise have been housed in neighbouring boroughs or districts. City centre apartments aimed at families, larger family housing, affordable home ownership products, remodelling of older housing stock to meet the needs of modern families will all form part of the armoury of projects that will help to realise this objective.
Delivering more home ownership among low to middle income households
Home ownership remains a bedrock and foundation for many families and communities. Yet levels of home ownership in the city are comparatively low and falling. Too many of Liverpool’s economically active remain unable to own their own home, be it because of a shortage of supply, affordability constraints or a combination of both. Foundations will seek to increase the supply of housing for ownership aimed at lower income households through increasing supply, delivering pioneering new developments, new house types and innovative financial approaches such as Rent to Buy. Where possible, Foundations will bring home ownership to areas where the mainstream housing partners have often overlooked due to perceived viability and pricing issues. Foundations aims to bring stability and cohesion to some of the city’s historically more fragile and transient markets.
Like many post-industrial cities Liverpool continues to carry the cost, financially, socially and environmentally of having too many areas that fall short on many measures of prosperity and health. Housing can play an important role in tackling these issues, providing the impetus for neighbourhoods to evolve and the stimulus for wider investments in public realm, open space, health and wellbeing. Ensuring that housing investments are used as both levers and stimuli to enable the regeneration of economically challenged neighbourhoods and districts across the City, referred to as Regeneration Zones, will be a core focus of the Foundations plan. These will be the places where Foundation will direct its products and expenditure. Products will include new build housing for outright sale, targeted Private Rented Sector investments, shared ownership and Rent to Buy.
Supporting vulnerable people
Foundations will work to ensure that vulnerable groups and those currently under-served in the housing market are targeted through initiatives and investments that have the dual advantage of improving their housing options, yet also integrate well with other core city-wide social care policies and priorities. Foundations will build innovative homes for the elderly and for carers. It will be a flag bearer of good design as a way of tackling loneliness and encouraging community cohesion and integration.