The SHIP intends to carry out Glasgow’s Housing Strategy. Credit: Glasgow City Council.

Glasgow City Council in Scotland, UK, has announced that it received approval for its plans to invest £527m in the development of more than 7,500 affordable homes over five years.

Its Strategic Housing Investment Plan (SHIP) is for the period 2024-25 to 2028-29, which is said to be crucial in fulfilling the city’s housing needs amid its expanding population and ageing population rates.

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The homes will be constructed via 185 separate development projects.

The SHIP intends to carry out the vision and strategic goals outlined in Glasgow’s Housing Strategy.

This involves lowering the number of households living in emergency and temporary housing, as well as homelessness, expanding the supply of affordable family housing, providing economic support to lower the rate of children living in poverty, and meeting the growing demand from households on waiting lists for registered social landlords.

It also includes offering support to households of refugees residing in Glasgow; addressing pressures on the city’s private rental sector such as a decline in letting activity and an increase in rent prices; and meeting anticipated changes in Glasgow’s population demographics such as a projected 22.3% increase in the number of people 65 and older by 2032.

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Glasgow City Council city convener and councillor Kenny McLean said: “Glasgow’s Strategic Housing Investment Plan is very important for the city, paving the way to build 7,500 new affordable homes and meet other key housing needs between 2024 and 2029.

“New affordable housing is key not only to the quality of life of the residents, but the standard of the environment in our communities and its contribution to Glasgow’s economic growth.”