Lovell helps deliver affordable homes taking shape in Walsall
Two new developments of affordable homes are taking shape in Walsall as leading Midlands landlord whg forges ahead with its ambitious housebuilding plans.
Work is progressing well at The Cinnamons, a 33-home development that will transform derelict land in Teddesley Street, Walsall. Another 32 homes are being built at Silver Waters, in Market Square, Brownhills, which used to be home to the old outdoor market.
The Cinnamons and Silver Waters developments have both been part-funded by the Homes and Communities Agency (HCA) and are being delivered by partnership homes developer Lovell.
Both new developments contain a mix of two, three and four-bedroom homes and are due for completion in summer 2018.
Both The Cinnamons and Silver Waters will include whg’s first Rent to Buy homes. Rent to Buy is a government scheme designed to help people who are struggling to save for a deposit by offering a period of lower rents before the opportunity to buy their home outright.
The developments will also feature Shared Ownership homes. Shared Ownership provides a smart and simple way for prospective home buyers to buy their home, by allowing them to purchase a share of a property and pay rent on the remaining share.
The £3.7m development in Teddesley Street includes 12 homes for Rent to Buy, 11 for affordable rent and 10 for Shared Ownership.
A further 25 Rent to Buy homes are being built at the £3.3m Silver Waters scheme, along with seven for Shared Ownership. This scheme forms part of the wider Silver Court regeneration project, which is bringing 157 high-quality, affordable homes to Brownhills. This includes whg’s next purpose-built wellbeing scheme, Ellum Pointe, which contains 62 apartments for people aged over 55.
Mark Tranter, whg’s director of development, says: “These schemes are part of our commitment to build 1,400 new homes across the region over the next four years.
“The developments will include Rent to Buy and Shared Ownership homes, as we look to increase the range of properties we offer in order to cater for different people’s changing needs and circumstances.”
Stuart Penn, Lovell’s regional managing director, adds: “We’re proud to be working with whg to bring new life to these two sites, creating urgently-needed affordable homes which will significantly extend the options for people looking for a modern, well-designed home they can afford in their local community.
“Offering properties for rent, as well as opportunities to get on to the housing ladder through Rent to Buy and Shared Ownership, the schemes will each provide well-located, high-quality homes.”
Caroline Cormack, head of Home Ownership and Supply for the Homes and Communities Agency (HCA) in the Midlands, says: “It’s great to see these developments progressing, which are excellent examples of our commitment to increase the supply of new affordable, homes like these.
“The Cinnamons and Silver Waters will play an important part in helping more local people in Walsall have the opportunity to have a home of their own.”