News release from 18/06/2018
Residents have moved into the first of more than 2,000 new affordable homes in Northstowe.
The two and three-bedroom rented houses are now home to four families, with shared ownership plots also reserved.
The new town of Northstowe is positioned approximately 10 miles north west of Cambridge. As it grows over the next decade, the town’s 24,000 new residents will be able to enjoy high quality facilities and transport links, including cycleways, a guided busway, green spaces, shops and schools as well as a number of community spaces.
The first 1,5000-home phase of the development will see bpha deliver 300 affordable homes through an investment of around £44m. 180 of the homes will be for affordable rent and 120 for shared ownership sale.
Jeff Astle, Development and Sales Director at bpha, said: “We are delighted to be providing the first affordable homes on this initial phase at Northstowe. Private rents in this area can top £1,000 a month, so the fact we’re able to offer these family homes for just over £750 a month represents good value for money for our new customers.”
“We’re also looking forward to welcoming a number of new homeowners into our shared ownership homes at Northstowe too. Shared ownership enables purchasers to buy part of their property and rent the remainder from bpha. Qualifying purchasers require a smaller deposit and the monthly cost of their combined rent and mortgage will be significantly less than had they purchased on the outright market.”
The first phase of Northstowe includes 1,500 homes, the second phase will see a further 3,500 homes built. Across the two phases there will be a total of 2.050 affordable homes. There will also be further phases with more affordable homes.
Cllr Hazel Smith, South Cambridgeshire District Council’s Cabinet Member for Housing, said: “Affordable homes are a top priority for the Council and it is wonderful to see people moving in. We are determined to do all we can to help speed up the delivery of affordable homes across the district so many more people can benefit as they are beginning to do here. As with any new town, getting the first affordable homes underway takes a little time, but now we have them coming out of the ground there will be more and more being delivered.”
Terry Fuller, General Manager for Strategic Land at Homes England said: “It’s great to see the first residents moving into the affordable housing as an important milestone in the development of a new, vibrant community at Northstowe, which will ultimately see 10,000 new homes built at the site. The next phase of this project will focus on developing the town centre to become a hub for the new residents.”