More than 100 affordable homes are being brought to Leicestershire, with the support of local councils, by leading housing provider Stonewater.
The not-for-profit organisation is celebrating the start of construction at Westfield Farm, following the successful completion and handover of its phase one homes at another development nearby – known as Farndon Fields.
Across both schemes, Stonewater will have brought a total of 78 high-quality homes for affordable rent and another 30 homes for shared ownership to the area.
Shared Ownership is a part-rent, part-buy scheme that enables aspiring homeowners to buy a share of a property – normally 40% or 50%, although higher percentages are available – and pay a subsidised rent on the remainder. The more of the property someone owns, the less rent they pay, making it a more affordable way for many individuals and families to get onto the property ladder.
The second phase at Farndon Fields, which is being supported by Harborough District Council, will offer a mix of one, two and three-bedroom houses as well as two-bedroom maisonettes. The new homes are being built by Avant Homes as part of its 215 home development, Ten Locks Village.
Avant Homes is also the developer for Stonewater’s Westfield Farm at its Sheltone Village development. The housebuilder plans to build a total of 322 homes, with Stonewater acquiring 63. The 63 Stonewater Homes will feature one, two and three-bedroom houses as well as one-bedroom flats and two-bedroom bungalows.
Chris Montague, Assistant Director of Development (East) at Stonewater, said: “We’re extremely excited to see work on the second phase of Farndon Fields and Westfield Farm get underway with Avant Homes. Stonewater is doing all that it can with the support of local authorities like Market Harborough and Hinckley and Bosworth Borough Council to give everyone the opportunity to have a place that they can call home and we are pleased to be bringing more than 100 much needed affordable homes to Leicestershire across these two schemes alone next year.”
Avant Homes Midlands Sales and Marketing Director, Debby Pavitt, said: “Affordable homes are an integral part of our build programme across all of our developments in the Midlands and we’re pleased to be able to work with Stonewater to bring these homes to Market Harborough and Earl Shilton.”
A Harborough District Council Spokesperson, said: “Harborough District Council is delighted to be working with partners to help provide more affordable homes for the Harborough district to help people get on the property ladder. This is an exciting development for the district and we look forward to seeing the community and development grow over the coming years.”
Header image shows Stonewater representatives on site at Westfield Farm.