Affordable housing providers Torus and Magenta have unveiled two Liverpool city region housing schemes worth a combined £46.9m. Tony McDonough reports
Two new Liverpool city region housing developments worth a combined £46.9m will offer 289 rent-to-buy and affordable homes.
Liverpool-based affordable housing group, Torus, has acquired a site from Knowsley Council to deliver a £24m Rent to Buy housing scheme offering 131 two, three and four-bedroom homes.
And a partnership between Wirral based Magenta Living and Halton Housing will deliver 158 affordable new homes in Widnes in a £22.9m two-phase scheme. Three Sails Point will be Magenta Living’s biggest development to date.
Torus will build its development, using its in-house contractor HMS, at Knowsley Lane and Astley Road in Huyton. Working in partnership with Knowsley Council, the development will see the brownfield site repurposed in an area identified for regeneration.
Torus is working closely with the council to identify local housing need and build the types of homes that are needed, where they’re needed. All homes on this development will be available via Rent to Buy.
A Government-backed initiative, Rent to Buy helps people get on the property ladder affordably and allows eligible working people to rent a newly-built home at 20% less than market rent levels, to save a deposit to buy the property after five years or to convert their home to Shared Ownership.
Torus managing director, Chris Bowen, said: “Knowsley is an important area for Torus, and one we will continue to invest in over the coming years. Our Merseyside heartlands remain a key priority for Torus and we will continue working with the council to regenerate disused land and build affordable homes, suited to the individual needs of the people who live in the area.”
Magenta’s Three Sails Point on Carter House Way, Widnes, will provide 158 new homes across the first two phases, including a mix of affordable rent, shared ownership, and outright sale.
The shared ownership and outright sale homes will be marketed for sale by Open Door Properties who are part of Halton Housing. Mulbury are the main contractor overseeing the £22.9m development which includes funding from Homes England.
Paul Anson, executive director for business growth and resilience for affordable housing provider Magenta, said: “It’s exciting to be working with our partners as we re-vitalise what was a disused site into a vibrant place to live. We are bringing new homes, energy and of course jobs to the local economy.
“Our partnership with Halton Housing and Open Door is a positive one given they will expertly market and sell the properties to the local community and beyond to help create a thriving place to live.”