Housing association plans £50m investment
Wed 24 October 2012, 6:42 pm
Medway's largest landlord, MHS Homes, has announced that it is investing more than £50 million in building some 300 new homes in the area over the next four years.
The social landlord said the need for affordable homes in the area had never been greater, and that it was committed to working with Medway Council to meet demand.
Chief executive Ashley Hook said the homes would cover a mix of tenures, including rental and shared ownership.
“These much needed affordable homes will not only help meet the pressing housing needs we have in Medway, this investment will also be important to the local economy,” he said.
“For every house built, it is estimated that 1.5 jobs are created directly and a further four jobs created in the supply chain.”
Howard Doe, the council’s housing and community services lead, said he hoped the proposals would enable more young people to take their first steps onto the property ladder.
“This is fantastic news for both the Medway area and for local people,” he said.
Earlier this month, mhs opened its latest development, Fledgling Terrace - a mix of six two- and three-bed roomed family homes on a former garage site in Kestrel Road.
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