Catalyst has started work on a 100% affordable residential scheme in Temple Cowley, Oxford.
The scheme will deliver 48 homes in total, a mix of 35 one-, two- and three-bedroom flats and 13 three- and four-bedroom houses. Designed by Hester Architects, the new neighbourhood will be made up of three apartment blocks and a series of semi-detached and terraced houses. 29 homes will be available for shared ownership and 19 for affordable rent, with the initial rents set at social rent levels. Catalyst has received Homes England funding so that all of the new homes will be affordable.
Tom Titherington, Executive Director of Property & Growth at Catalyst, said: “Delivering this 100% affordable scheme in Temple Cowley demonstrates Catalyst’s ongoing commitment to deliver affordable housing to those that need it most. We will also be creating a new high-quality and well managed neighbourhood in this part of Oxford.”
Councillor Linda Smith, Deputy Leader for Oxford City Council, added: “ The city council’s sale of this site generated a valuable contribution towards the modern Leys Pool and Leisure Centre which is now being enjoyed by residents from across East Oxford and beyond, and I’m delighted that the sale was to Catalyst Housing who are now starting work on a 100% affordable scheme, providing both homes to rent and shared ownership homes which will help residents currently priced out of Oxford’s expensive property market.”
Catalyst purchased the site from Oxford City Council in December 2014 for £3.6m, and it is estimated that the homes will be delivered in autumn 2019. Mears New Homes is the construction contractors. Sales information on the shared ownership homes will be released early next year.
Stephanie Ainsworth, Senior Specialist in Affordable Housing at Homes England, commented: “Homes England is pleased to support Catalyst to deliver these affordable homes through our investment. Homes England is actively working with a number of housing associations who have ambitious plans to build new homes, especially in areas of acute housing need.”