Norfolk housing trust to spend £265m on homes
- 12 September 2013
- From the section Norfolk
A housing trust is to build 1,000 new affordable homes in north Norfolk over the next 10 years at a cost of £200m.
Victory Housing Trust, based in North Walsham, is also spending another £65m on refurbishing existing properties.
Funds will come from the sale of about 300 outdated properties which require significant repairs or cannot be made energy efficient.
Currently the trust builds between 50 and 100 new homes per year and plans to increase this figure by 70.
Chief executive John Archibald said: "We are determined to provide as many affordable homes in the north of Norfolk, of the best quality, that we possibly can.
"To make this possible, we will need to sell some of our outdated, less energy-efficient stock, to free up funds which will lever in extra investment to enable us to build many, many more new homes."