The approach to the affordable housing at Park View, the extension to Woodstock in Oxfordshire has been recognised by the Estates Gazette Award 2021 with the Public/Private Partnership Award for Blenheim Estate Homes and West Oxfordshire District Council.
The ground breaking initiative by Blenheim Estate Homes and West Oxfordshire District Council (WODC) is to provide truly affordable homes at significantly below market rents. Typically, affordable rental properties are let at a 20% discount to market rent, but together Blenheim Estate and WODC devised a model that enables discounts up to 40% of the current market rent to be offered to their tenants. This means that Blenheim can build and manage affordable homes efficiently and without subsidy as part of their existing development and investment operations.
The judges comments: At a time when the affordable housing issue is at crisis point; this is a much-welcomed project and focus. This is brilliant innovation by an historic landowner to address major social problems."
Read more about Park View here.