Affordable housing in Cambridgeshire
Housing association Stonewater began construction of 36 affordable homes in St. Neots last month. The development located off Huntingdon Street has been supported with funding from Homes England and will provide 14 homes for affordable rent and 22 homes for shared ownership.
Stonewater has partnered with NFC Homes, who will construct the homes and also worked closely with Huntingdonshire District Council. The development will bring much-needed affordable homes in an excellent location close to the town centre with easy access to local amenities.
Together, the organisations are working towards Stonewater’s vision of giving everyone the opportunity to have a place that they can call home.
A mix of homes will be provided ranging from five one-bedroom flats, four two-bedroom flats, two two-bedroom houses and three three-bedroom houses available at an affordable rent for families of two to five.
In addition to this, families looking for a realistic and affordable way to buy a brand-new home and get on the property ladder can do so with Stonewater’s shared ownership scheme.
There will be three two-bedroom, 16 three-bedroom and three four-bedroom houses available for shared ownership. This part-buy, part-rent scheme gives aspiring homeowners the chance to purchase a percentage of the property depending on affordability and then renting the remainder of the property at an affordable rent.
Nicola Hillier, Regional Development Manager at Stonewater, said: “St Neots is a wonderful place to live with a wide variety of housing options in the area. When new homes are being built it’s important that there are also affordable homes available for locals, especially as more employment opportunities are brought to the area. At Stonewater we’re excited to be building a mix of affordable rented homes and shared-ownership properties in St Neots.
“Our 36 homes will help address the lack of affordability in the area and give aspiring homeowners that live locally the chance to get on the property ladder. Projects like this would not be possible without support of other agencies and this is just one example of how our funding from Homes England is helping Stonewater to deliver on its promise and our commitment to tackling the housing crisis.”
Ryan Fuller, Executive Councillor for Housing, Planning and Economic Development at Huntingdonshire District Council, said: “We are very pleased to have been able to work with Stonewater to help deliver these much needed affordable and shared-ownership homes in St Neots. At one time it was thought that no affordable housing was possible here, so we are particularly pleased with this result.
“The District Council has worked hard to help Stonewater to secure the funding that was required and ensure that the development will also bring some very welcome improvements to the town. St Neots is already the largest town in the county and as it continues to grow it is vital that local people are able to access affordable homes.”