Housing association to treble development pipeline to 50,000 homes over next decade
Housing association L&Q has unveiled an ambitious plan to build 50,000 new homes over the next decade.
The social landlord has committed to build 5,000 new homes-a-year under its L&Q 2020 plan.
The plan would see L&Q more than treble its development pipeline from 15,000 to 50,000 homes over the next decade. Half of the homes built under the plan will be for affordable sale.
Speaking about the plan, L&Q group chief executive David Montague said: “The chronic lack of quality, affordable housing is one of the biggest challenges facing Britain today. For far too long, supply has fallen woefully short of demand and so we are making a step change in our development programme.
“L&Q has always had the desire to create more homes, and now our financial strength gives us the capability to embark on the largest housebuilding programme in housing association history.”
He added: “This bold plan will stretch us, but we have achieved extraordinary things before and we are determined to do so again. In 50 years’ time we will still recognise ourselves as a charitable housing association, and I hope we will be well on the way to achieving our vision that everyone should have a safe, warm, quality and affordable home.”