Senior representatives from Cornwall Council, Cornwall Trade and Investment, and Treveth will be attending the UK’s Real Estate Investment & Infrastructure Forum (UKREiiF) to announce its Supported Housing strategy valued at £82m over five years
Cornwall has unveiled the £82m Supported Housing Delivery project as part of a £3.4bn investment in housing over the next decade.
Research by Inner Circle Consulting has identified eight major development projects in the region, forecasting a total capital spend of £10.6bn. This includes the £3.4bn earmarked for housing.
These opportunities will be showcased at UKREiiF, aiming to attract national contractors to Cornwall. The initiative seeks to expand operations and deliver a range of homes to meet the needs of local communities.
Cornwall Supported Housing scheme to create sustainable communities
The first-of-its-kind housing scheme is set to deliver 48,000 new and improved supported housing units across Cornwall by 2050.
Committed to carbon neutrality and creating inclusive communities, the housing strategy is one of the key opportunities set to encourage national contractors to expand their operations in Cornwall.
The initiative aims to meet the growing housing demand and support vulnerable populations, including those with physical disabilities, learning difficulties, and mental health needs.
Councillor Olly Monk, portfolio holder for Planning and Housing, emphasised the importance of this investment. “Cornwall Council recognises that heavy investment in housing will ensure we can accommodate a growing population, support our vulnerable people, and attract the specialist skills needed to drive economic growth,” he said.
Cornwall’s housing plans will address the changing demographics of the region
The region is expected to see a 257% rise to the over-90 cohort by 2050.
Because of this, the Council is creating a framework in 2024 for investors and developers to deliver 5,545 new homes for extra care, residential care, retirement, and nursing care, starting with five sites from its own land.
More supported housing is expected to be added, including:
- 12,965 new accessible homes for individuals with physical disabilities, learning difficulties, mental health needs, and long-term conditions
- 325 new specialist housing units for those with complex needs or at risk of homelessness
- 170 new specialist housing units for vulnerable young people.
Demand for housing is outstripping supply across the UK
Cornwall is outpacing major UK cities in housing development, addressing high demand with a focus on affordable homes.
Key projects include the £300m Langarth Garden Village, offering 3,800 eco-friendly homes (35% affordable), and the £230m Pydar Street regeneration in Truro, providing 360 homes (139 affordable).
Set to be presented at UKREiiF, these projects aim to meet local needs and attract investment, contributing to Cornwall’s goal of 52,500 new homes by 2030.
Councillor Linda Taylor, leader of Cornwall Council, said: “We are developing housing stock faster than the rest of the UK so harnessing the power of Cornwall is essential to the UK’s journey to net zero. Investing in Cornwall means having the space to think big and work with a proactive council to create a real legacy.”
