Major investment in affordable homes in Suffolk and Essex
- Credit: Colne Housing
Hundreds of affordable homes are on the way, in Suffolk and Essex, worth £45m, in a new initiative by Colchester-based housing association, Colne Housing.
Ellisons Solicitors was instructed by the Colchester-based housing association to assist with its development strategy to provide much needed and affordable housing in Essex.
Colne Housing and its development partner, Iceni Homes Limited has negotiated the development of excess of 250 new homes, which will be shared ownership or offered at affordable rents.
Contracts have been exchanged on a number of sites (a total of 240 homes) and the houses will be released to the market in phases between April 2018 and 2020.
The sites include; Colchester, Great Chesterford and Stansted and have included working with some big names in construction, including Bloor Homes, Bellway and Kier and the local councils.
Sara Thakkar chief executive of Colne Housing, said: “Colne Housing is proud of what it continues to achieve by working in partnership with Ellisons and Iceni Homes. The partnership enables us to keep building much needed affordable homes, which meet the needs of people in Essex and Suffolk.
“This marks a major expansion of Colne Housing homes in Suffolk in the coming years - helping meet the affordable housing demand in the county and support solving the regional housing crisis.”
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The agreement brings 250 homes to the market, for shared ownership or affordable rent, eventually housing around 1,500 people.
Philip Roberts, head of Ellisons’ commercial property team said: “It has been an exciting task for the Ellisons team to work in partnership with Colne Housing and Iceni Homes. The housing shortage is a hot topic both nationally and locally and it is fantastic to see a locally based housing association able secure local homes for local people.”
The total development cost is £45m.
In Essex there are sites at Braintree, Colchester, Chelmsford, Stansted Mountfitchet, Great Chesterford, Latchingdon and Tiptree.
While in Suffolk two sites have been confirmed so far.
At Woods Lane, Melton there will be 60 homes, with 191 residents to move in by the end of 2020.
And at Long Melford there will be 27 homes, for 88 residents.