Derwent Living has secured over £1million worth of funding through the Government’s new Affordable Homes Guarantees programme to build 60 new homes in Nottinghamshire and Derbyshire.
The housing provider won the funding in a competitive bidding process that began in May 2013. It fought off stiff competition from other housing providers across the region.
In Nottinghamshire, 18 extra homes will be built as part of the Barnby Gate development in Newark. 42 new homes will be built in Shirland in North East Derbyshire, with six of those on offer as shared ownership properties.
Samantha Veal, assistant director of development at Derwent Living, said:
“I’m thrilled that we’ve won funding through the Government’s Affordable Homes Guarantees programme – it’s a real vote of confidence in our ability to deliver value for money on new developments.
“The funding will enable us to build more homes in Derbyshire and Nottinghamshire in areas where there is a real shortage of good quality housing. The funding is great news for local families and the developments will bring work and jobs to local people too.”
This is the first time that Derwent Living has won funding through the Affordable Homes Guarantees programme. As part of the programme, the Government originally made £225million available for the development of new affordable housing. This funding was doubled in the 2013 Budget to £450million to support up to 30,000 new affordable homes.
The developments will bring more one-bedroom properties to the social housing market – six in Newark and eight in Shirland. One-bedroom properties are currently in high demand as a result of changes to housing benefit regulations. The changes reduce the amount of housing benefit claimants can receive if they are deemed to have more bedrooms than they require.
The properties being developed are in addition to the 650 new affordable homes being provided as part of Derwent Living’s 2012-14 business plan, the majority of which are being delivered without grant funding.
The homes will be completed before March 2017.