Housebuilder Mi-space join Stonewater and Swindon Borough Council to celebrate the completion of 48 new affordable homes for rent and shared ownership in Swindon.
Stonewater’s new St Quentin’s Close housing community has been built on the site of a redundant council works depot and offers a mix of 21 one- and two-bedroom apartments and 22 two-, three- and four-bedroom houses for affordable rent.
A further five Stonewater properties – three two-bedroom and two three-bedroom houses – are also being offered for affordable shared ownership. This is a low cost, part rent, part buy scheme which is designed to help people get a foot on the property ladder by enabling them to purchase a share of their property and pay a reduced rent on the remaining portion. The shareholding can also be increased over time until the home is owned outright.
Rob Bradley, Executive Director of Mi-space said: “Mi-space is delighted to have worked with Stonewater to deliver this high quality project. We are very proud of the design and construction standards achieved which are clearly being appreciated by the residents. This project demonstrates our ability to deliver industry leading performance for the benefit of our clients and the community.”
“Interest in St Quentin Close has been overwhelming and the development is already oversubscribed,” said Jonathan Layzell, Stonewater’s Executive Director of Development. “The fact that so many local people have applied for these properties highlights a real need for more truly affordable homes in the area where many local people with a connection to Swindon, are being priced out of the housing market. We are delighted to have completed these much-needed homes and look forward to working with the Council and our construction partners to create more affordable homes where they are most needed in the Borough.”
The £6.2 million affordable housing scheme has been financed by Stonewater with a £330,000 grant from the Homes and Communities Agency and £66,000 from the Recycled Capital Grant Fund. The scheme created an estimated average of 40 local jobs during its two-year construction.
Image: Stonewater joined representatives from Swindon Borough Council and housebuilders Mi-space at a ribbon-cutting ceremony to celebrate the completion of new affordable homes at St Quentin Close in Stratton-St-Margaret, Swindon. Left to right: Jonathan Layzell, Stonewater’s Executive Director of Development; resident Tracy Fitton and Cllr Oliver Donachie, Swindon Borough Council.