The first 14 houses of a scheme that will include 200 affordable properties have been completed in Stanmore, North West London. The ?31 million development is situated in Honeypot Lane on the former DVLA office site.
The 200 affordable homes will be provided by A2Dominion, and are expected to be finished in 2014.
More than 500 private sale homes, with commercial buildings, will also be developed on the property. The private sale homes are a development by St Edward Homes, a joint venture between Prudential and the Berkeley Group.
The development director for A2Dominion, Danny Lynch, is pleased with the development of the project, recognising that it is an important step on the way to dealing with the country?s housing crisis.
Build.co.uk reported that A2Dominion?s 200 new properties would include 122 one-, two- and three-bedroom apartments, together with four and five-bedroom houses. Of the apartments, 21 will be reserved for people over 55 years old.
Mr Lynch said: ?We’re pleased to be providing much-needed high quality affordable housing at the Honeypot Lane development, which will help to meet demand from local people.?
For those who cannot afford homes on the open market, the development will offer 78 one- and two-bedroom apartments for shared ownership, allowing occupants to purchase a share in the property and pay rent for the rest.
The Commercial Finance Group reported that A2Dominion also launched a development in East London, beside the Limehouse Cut Canal. The building includes one-, two- and three-bedroom apartments, starting at ?82,000 for a 40 per cent share of a one-bedroom property.
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