Affordable housing variation at 39 Sheep Street, Bicester

“The initial FVA indicated that 0% affordable housing could be provided on the entire scheme of up to 1,700 dwellings. At the point of this initial submission there was no proposal to include a review mechanism. A review mechanism is a clause included in a S106 legal agreement where the policy compliant amount of affordable housing (or other developer contributions) have not been secured due to viability issues.”

“The Himley Village application site is situated to the northwest of Bicester, north of Middleton Stoney Road and west of Howes Lane and it forms part of the wider North West Bicester Eco Town area within the extent of the site allocated by Policy Bicester 1.”

“The first sensitivity test applied a corrected tenure mix for the affordable housing of 70% affordable rented and 30% Intermediate/Shared Ownership (as required by CDC policy and recommended by Cherwell’s Strategic Housing Team). This resulted in a slightly higher RLV of £8.25 million. Whilst this reduced the viability gap to approximately £25.2 million the scheme was still unviable. 3.10.”

“It was acknowledged that further refinement would be needed to determine the precise level of AH that would be viable (as this was a strategic sensitivity test of a reduced affordable housing provision of 10%). 3.13.”

“No. The proposed modification will reduce the percentage of AH that will be delivered by this development below the policy compliant 30%. However, the modified obligation will still secure at least 10% AH from the development and the addition of a review mechanism will ensure that the level of AH being provided could be increased for future phases if the viability of the scheme improves. The modification also maintains all other agreed contributions and obligations.”

“This modification would result in the development providing a total of 170 affordable dwellings rather than the anticipated, policy compliant, level of 510. This is disappointing but still a very substantial number of affordable homes and significantly higher than the 50 originally implied by the applicant’s FVA. The agreed addition of a review mechanism also gives the Council opportunities in the future to secure more AH in the event that financial viability improves.”

“That in line with officer recommendation, authority be delegated to the Assistant Director Planning, to grant permission for application 26/00228/CDC, subject to the conditions set out below (and any amendments to as deemed necessary).”

“The development to which this permission relates shall be begun not later than the expiration of three years beginning with the date of this permission.”

“Except where otherwise stipulated by conditions attached to this permission, the development shall be carried out strictly in accordance with the form and following approved plans: ‘Location Plan’ and 8469.ASP.7.0 Rev A ‘Proposed Elevation/site plan.”