Affordable housing provider Riverside takes delivery of final 74 homes in a £12.6m development in Liverpool. Tony McDonough reports
Riverside has taken delivery of the final 74 homes in a £12.6m 105-home development in Liverpool.
Finch Gardens in Knotty Ash was built in a partnership between Riverside, Liverpool City Council and Lovell and construction firm Lovell. It was funded by Homes England, the Regeneration Capital Grant Fund and the Brownfield Land Fund.
These two, three and four-bedroom homes are located on the site or a former housing estate that was built in the 1950s. The first 31 homes were completed last year and were made available for affordable rent.
Now the final 74 homes have now been completed and Liverpool City Council has formally handed these over to Riverside. There is a mix of tenures on offer, including affordable rent, shared ownership and Rent to Buy options.
Rent is classed as affordable when it is set at no more than 80% of local market rates.
Shared ownership allows people to buy with a smaller deposit and mortgage. Rent to Buy which allows them to pay a reduced rent for a minimum of five years, giving them time to save for a deposit.
Helen Reddington, Director of Home Ownership at Riverside, said: “We are excited to launch our Finch Gardens development and to be able to offer local people, and those working close by, a number of ways to take their first step into home ownership.”
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New homes for sale are ready now and prospective buyers can register their interest by calling the Riverside sales team on 0345 155 9125, email Sales@riverside.org.uk or visit www.riversidehomeownership.org.uk
Mark Bourgeois, Liverpool City Council’s interim director of city development, added: “This scheme markedly expands the housing offer for those seeking an affordable route for home ownership in this part of Liverpool.
“That is going to make a big difference to the lives of a lot of families – and I hope those that make their home here can help shape a new chapter for Knotty Ash too.”