As part of the wider redevelopment of the Edge Lane corridor, Liverpool Mutual Homes (LMH) is delivering a £20 million scheme of 145 high specification affordable luxury homes designed to help people onto the property ladder.
The Approach is an exciting development of Shared Ownership and Rent to Buy properties giving potential home owners the opportunity to purchase a new home which they would not be able to afford on the open market.
The site will include 107 one, two and three bed apartments with an ensuite in the master bedroom. A further 38 contemporary 2 and 3-bedroom houses will offer enclosed gardens and off-road parking.
Construction began on site last month and groundworks are anticipated to finish later this month, after which substructure works and drainage will commence.
Deputy Mayor of Liverpool & Cabinet Member for Housing, Councillor Lynnie Hinnigan together with Assistant Director for Regeneration, Mark Kitts joined LMH Chief Executive Steve Coffey and LMH Development Director Chris Bowen, alongside Jonathan Peasant, Development Director from Galliford Try to view progress on site this week.
Steve Coffey said, “The Approach is a signature development for LMH and we are delighted to be working with Liverpool Housing Partnership to deliver this much-needed affordable housing which opens up opportunities for home ownership in a central location.
“Alongside local Liverpool residents, these high-quality homes will attract future home owners, young professionals and working families including people based at the nearby Universities and the Knowledge Quarter.”
Councillor Hinnigan added, “The Approach is an excellent development and it’s great to mark the beginning of works on site. These new homes will transform one of the busiest gateways into the city centre, providing a wonderful opportunity for the local community to get onto the property ladder.”
Mark Kitts commented: “This development is a key example of our shared ambition to deliver high quality housing in crucial regeneration areas of the city region. Schemes such as The Approach are essential to building a positive living experience and help to showcase our investment in affordable homes for all.”
Brendan Blythe, Regional Manager Director at Galliford Try Partnerships, responsible for the construction of the scheme, said: “The scheme has been designed with residents in mind and will provide excellent amenities and parking provisions in addition to good transport links in and out of Liverpool. Galliford Try Partnerships as a business is committed to supporting the UK drive to deliver 300,000 new homes a year and this scheme is a great example of how partnerships deliver great results for communities.”
All apartments will be available via Rent to Buy, a new tenure which provides new home owners with the opportunity to save for a mortgage deposit while renting their chosen property.
The remaining houses will be for sale via Shared Ownership whereby home owners buy a percentage of their home, which could be 25%-75% depending on what’s suitable for them. They then pay a mortgage on the share that they buy and pay a reduced rental amount on the remainder.
The new homes are also being delivered through Liverpool Housing Partnership as part of an innovative collaboration with Liverpool City Council and Redrow Homes to deliver 1,500 homes by 2020.
The development highlights LMH’s continued expansion and growth since the company’s inception in 2008. The new units are part of LMH’s ambition to deliver their 1000th home in the City region.
Homes at The Approach will be available from 2019.