We have started work on 47 affordable homes on the land next to the Broad Plain House social club, near the Broadbury Road/ Leinster Avenue junction.
Part-funded by a £3.3 million grant from Homes England, every home at the development will be designated as affordable housing. Ranging from one to three bedrooms, the 47 homes will either be available for subsidised social rent – typically 40% below the market rate – or sold through Shared Ownership.
Shared Ownership is a part-rent, part-buy scheme meaning the deposit is far less than a buyer would need to purchase a home on the open market. 37 homes will be available through the scheme, with the remaining 10 offered for social rent through Bristol City Council.
Francesca Topazio, Head of Affordable Housing, said, 'We're excited about the contribution this scheme will make to affordable housing in Bristol. If we were a typical private developer, only 30% of this scheme would have to be affordable housing. Instead, we’ve made the choice to invest in this area and ensure that all of these homes will be accessible for working people."
“We will also manage these homes in the long term. We put a great deal of thought into the quality of the build and design to ensure they are places people love to live in for years to come. We create profit for purpose; we have no paid shareholders, so we can guarantee that any surpluses are reinvested in our existing homes or used to build more affordable homes", she continued.
The final development plans include a natural play area for the local community, alongside thoughtfully designed private and communal green spaces. Additionally, homes will benefit from upgraded parking facilities, including electric vehicle charging points, catering to the current and future needs of local residents.
For more information about the development, see Curo’s dedicated website page or for information regarding Shared Ownership, please contact the Curo Shared Ownership Team.