Sefton Council has approved a plan to launch a residential development company, although details behind the deal remain “commercially sensitive”.
The council’s cabinet approved a confidential green paper report at a meeting today, and now plans to set up a privately-operated council-owned company.
The council has investigated the viability of setting up the project for more than a year.
Sefton said more details on the scheme would be released “in the coming months”, but declined to reveal details of funding, potential developments, or housing targets for the new venture.
The company will be formally established “over the next few months”, according to the council, which will then bring forward detailed designs and proposals for sites across the borough.
The council’s approval of the project company follows its 2030 Vision consultation, which set out strategic aims for the borough over the next 15 years.
Cllr Trish Hardy, Sefton Council’s cabinet member for communities and housing, said: “A lot of time and effort has gone into looking at establishing a housing development company and we are now in a position to move this forward for the benefit of the whole
“Through the 2030 Vision we have listened to what people have said and believe that the creation of a housing development company will ensure that we play a big part in providing a wider housing choice within the borough alongside other housing developers and registered providers.
“We believe, as do our residents, that a wide range of housing, within strong resilient communities, is key to the development of Sefton and our vision for 2030.”