New £9.5 Million Affordable Homes Development Underway In Warrington
Helena is bringing a new £9.5m affordable homes development to Warrington, after becoming the only Registered Social Landlord in the North West to secure government FirstBuy funding.
Helena was selected as a preferred development partner by Warrington Borough Council earlier this year and has now started work on a 92 property development on Thelwall Lane in Latchford, Warrington. Thanks to an equity input of almost £400K from the Homes & Communities Agency (HCA), Helena will offer 26 FirstBuy properties in the first phase of the development which is due to be completed in November 2012.
The FirstBuy funding will allow first-time buyers with an annual income of less that £60K to purchase one of these 26 properties for 80% of the market value. Equity loans of 20%, which are interest free for the first five years, will be provided jointly by Helena Partnerships and the HCA.
Helena is developing all 92 homes in partnership with affordable housing property developer Mulbury Homes, based in Lymm, Cheshire.
The two, three and four-bedroom homes and two-bed apartments will offer a range of rent, shared equity and shared ownership opportunities.
Thelwall Lane is Helena's first development outside of St Helens and a further addition to its growing portfolio of successful and award-winning housing developments.
Steve Moore, Executive Director of Business Development at Helena Partnerships, said: "Helena is passionate about creating quality homes and building strong and vibrant communities.
"We're bringing these values and aspirations with us to Warrington and are proud to be offering residents the chance to enjoy an affordable home in a popular area."
Greg Mulligan, a director at Mulbury Homes, said: "This former industrial site has provided a great regeneration opportunity to create a development that meets the housing needs of local families and workers and also provides homes residents can be proud of."
"We have worked closely with all local stakeholders to ensure this scheme offers the right mix of high-quality affordable homes that are energy efficient and meet exacting design standards."
14 December 2011
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