A SCHEME to attract £3.5 million worth of investment into social housing has been given the go-ahead.

Thanet council housing department has teamed up with three other organisations bidding for funds from the Housing Corporation for two major projects - the building of new homes for Thanet residents and for people from the London Borough of Newham.

Under the first project the council has formed a partnership with Thanet Community Housing Association and the London Borough of Newham to develop 15 flats and seven houses in Dane Road, Margate, at a cost of £2.25 million.

The association hopes to obtain grant funding from the Housing Corporation to which it would add more than £1 million to develop the scheme. The houses would go to Thanet families and the flats would be offered to residents from Newham, who have a local connection.

In the second scheme, Southern Housing Group is asking the Housing Corporation for £500,000 which they would match to develop ten two bedroom bungalows at a site yet to be decided in Thanet.

Cllr Mary Derrane, cabinet member with responsibility for housing, said: "At present other local authorities including the London boroughs place people in Thanet either into bed and breakfast or other private rented accommodation simply because we have that type of accommodation and costs are cheaper.

“Ultimately, we inevitably end up having responsibility for some of them and this causes a significant strain on our already long housing waiting lists and other services.

"This innovative partnership with Newham and the schemes with Thanet Community Housing Association and Southern Housing Group represent a significant investment into Thanet's housing sector which we could not attract on our own.

“Thanet families will now have a better chance to live in decent homes because we have been able to influence the projects to our advantage."