A housing association is planning to invest more than £2billion in developing 16,000 homes in the South West over the next 10 years.
LiveWest, which already owns 36,000 homes, says its ambitious growth plan is an attempt to help with the region’s housing shortage.
The developments will also create 10,000 jobs in the building industry and its supply chain, according to the company.
Last year LiveWest recorded a net surplus after tax of £56million, which is being re-invested into homes across the region.
LiveWest built 900 affordable homes in 2018 – a 10 per cent increase on the previous financial year – and plans to build 1,200 this year.
These will be affordable, social rent and shared ownership homes, as well as a further 200 for open-market sale.
LiveWest chief executive Paul Crawford said: “Our performance is a fantastic achievement. We are already investing that money in new homes, new services and in our existing homes and communities. We are in a strong position to move forward.”
LiveWest has also completed two major new-build offices in Exeter and Tolvaddon (it also has a Weston-super-Mare office), where it is making major investment.
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Mr Crawford added: “We are investing significantly in homes and we need to obviously invest in our employees.
“It is important we have the right office environment and the right working environment so our people can deliver great services to our customers.
“With our ambitious strategy, we are looking forward to working with partners across the South West on the next phase of our journey, delivering homes and services that will have a positive and lasting impact on peoples’ lives and the communities where they live and work.”
LiveWest employs 1,400 people across the organisation.