Clackmannanshire Council has said it is to build 28 new homes.
They will be built in partnership with Hadden Construction.
Councillors unanimously granted planning permission for the new development on land to the west of The Glen, Coalsnaughton and are part of the National Housing Trust (NHT) Initiative.
Scottish Futures Trust has worked on behalf of the National Housing Trust Initiative to get the development up and running, with the Scottish Government putting in a guarantee to cover the Council's involvement.
Under the NHT initiative, the Scottish Futures Trust, developers and the local authority have entered into a joint venture to purchase newly-built homes so they can be made available for rent at 'mid market' rates, for a period of up to 10 years.
Before any works begin on the site however, the Council is to carry out an extensive traffic calming scheme and pedestrian improvements. As part of the conditions of planning consent, £10k will be paid to the Council to enhance play facilities in the area of the new project. It is understood the money will most likely be used to upgrade the existing play area at Glen Park.
Housing Convener, Councillor Les Sharp, welcomed the news: "This demonstrates our commitment to increasing the number of houses available for rent in our communities. "In these challenging financial times, this initiative opens the doors to build more housing in Clackmannanshire and in this case where tenants may have the opportunity to purchase after 10 years and re-enforces our commitment for new build Council housing."
(JP/CD)
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