Cascading Approach to Affordable Housing Products

The Council acknowledge that the use of DMS or DMR products are likely to have a greater cost implication for private sector developers/investors, and so should only be used as a last resort where viability is not identified as an issue. Alongside this cascading of products, other suitable alternatives that may be considered are set out below in order of preference. It should be noted that the inclusion of an option on this list does not assume its acceptability as a satisfactory alternative in any particular scheme, as each case will be judged on its merits. 1) Social Rented Housing: To meet identified social housing need in a locality. 2) Even in areas with a social housing need, proposals should seek to also provide intermediate affordable housing, depending on whether residential units are intended for sale or for rent, including: For Sale a) Subsidised Shared Ownership (offered by Co-ownership HA) b) Discount Market Sale (sold to eligible buyers) For Rent c) Subsidised Intermediate Rent (via Intermediate Rent Operator) d) Discount Market Rent (let to eligible tenants) A combination of both forms of intermediate affordable housing should be offered where a scheme involves the provision of housing for sale and rent. DMR will be considered the most appropriate product for Build to Rent (BTR) proposals, due to the need for ownership to be retained by a single investor.