Housing association L&Q has launched a programme to deliver 50,000 homes over the next decade as part of a major development drive.
The social landlord has pledged to more than double its current output to 5,000 new homes a year by 2020, with half of these earmarked to be “for sub-market sale or rent, with a focus on genuine affordability”.
L&Q has claimed its new five-year plan is “the most ambitious development programme ever undertaken by a housing association”.
The plan, named L&Q 2020, has also seen the company outline a new set of corporate values and unveil a new customer service charter.
L&Q 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.
“Crucially, L&Q 2020 spells out how this growth will be achieved alongside an excellent customer experience.
“It’s not a case of one or the other – growth and service delivery go hand in hand.
“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.”