A plan to provide more homes in Cornwall was given the go-ahead by the Council’s cabinet.

The council will invest up to £170 million in directly building 1,000 new homes on sites across Cornwall.

The developments will be a mix of homes for private market rental with 35% for affordable rent or shared ownership, 15% sold on the private market and 50% available for private market rental.

A new company, wholly owned by the council, will be set up to buy, let and manage the properties. The income generated from the private sales and rentals will subsidise the affordable homes so there is no cost to the council over the life of the business plan.