Ipswich Borough Council set to reallocate £2 million of unused funds from Ravenswood and Bibb Way developments for new council house projects

As much as £2 million could be allocated for more council homes in Ipswich.

At its executive committee meeting next week, Ipswich Borough Council will consider setting aside unused funds from the Ravenswood and Bibb Way housing developments.

This would be used to kick start development of more council homes in the town, following the completion of 96 properties at Ravenswood. Bibb Way, featuring 150 affordable homes, also nears completion.

If approved, it would bankroll the identification of sites, surveys and project design.

All work is set to be carried out by Handford Homes, which is owned by the borough council.

Handford Homes has built 100 homes across seven sites in Ipswich, including Grimwade Street and at the old Tooks Bakery site.

In addition to these, three more – Bibb Way, Fore Hamlet and Hawke Road – will add 206 more affordable homes by March 2026.

According to a report set to be taken before the executive, the Ravenswood development has a budget of £26,187,817, down from an original estimate of £26,937,817.

For Bibb Way, it has been revised to £33,898,147, from from £35,328,147, while budgets for Hawke Road (£9,320,850) and Fore Hamlet (£8,808,003) remained the same.

Homes England gave £13 million to the authority to ensure the projects remained financially viable, while £3,340,500 from the Brownfield Land Relief Fund also reduced funding needed.

In total, £2,180,000 of the project’s contingency budget remains unused, £2 million of which is set to be re-allocated.