Issue - meetings

Wirral Waters One, Legacy Project

Meeting: 01/10/2018 - Cabinet (Item 21)

21 Wirral Waters One, Legacy Project pdf icon PDF 203 KB

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Minutes:

 

Cllr Angela Davies new

Councillor Angela Davies, Cabinet Member for Jobs and Growth, said:

 

Creating new homes on brownfield sites has never been more important. Huge Government house-building targets mean we have to take every opportunity to encourage, enable and drive landowners to develop brownfield sites and build the homes Wirral residents’ need.

 

“We have been clear with every developer and landowner in this borough who has planning permissions in place: we will support you every step of the way, but we need you to build the homes you promised. The Wirral Waters One proposal demonstrates just how serious we are in our determination to get brownfield sites developed.

 

“This is an ambitious and entrepreneurial move by Wirral Council. We know we need housing to be developed on brownfield sites and at Wirral Waters in particular, to relieve some pressure from our Green Belt. It is also clear these types of schemes are always difficult for private developers to make viable.

 

“The Council has stepped in and made it work. We have secured national funding to improve local infrastructure, we have worked hand in hand with the developers to make sure the quality of the homes was at the right level, and we have pulled together a solid commercial approach to make sure the financing needed to make the scheme a reality is available.

 

“This commercial deal also ensures the Council will generate ongoing revenue from the homes which are built, which can be used to invest further into making difficult brownfield regeneration schemes more viable.

 

“An extensive amount of work has been delivered to get this scheme to where it is today. We now have a major housing development coming forward at Wirral Waters – the first of what we hope will be many such schemes.”

 

Councillor Angela Davies introduced a report which reminded Members that on 26 February 2018 (Min 88 referred) the Cabinet had considered and approved a proposal to progress the development of the Wirral Waters One Project.  Primarily this was a project to bring forward 500 residential units in a 1 and 2 bedroom apartment scheme on the East Float of Wirral Waters.  It was a joint project between Peel Holdings, Aviva (as the scheme funder) and the Council, with the Council entering into a lease for the apartments for up to 50 years.

 

Consequently, the Cabinet had instructed officers to develop a business case for the delivery of a commercially viable scheme commensurate with the Council’s level of investment.  In addition, officers had been instructed to establish a trading company, limited by shares, to hold the lease to enable the delivery of the development in the longer term.

 

Members noted that the development would be the first large scale purpose-built private rented scheme in Wirral and would significantly enhance the housing offer within the local area by providing high quality private rented apartments, on brownfield land, on a waterfront location.  The rental levels for 20% of the apartments would meet the criteria for affordable housing.  The  ...  view the full minutes text for item 21