Clarion Housing Group has acquired a ten acre site in Suffolk on which it will deliver a 100% affordable housing scheme with a £24m gross development value (GDV).
The UK’s largest housing association has teamed up with developer Lovell to redevelop the land on Aspal Lane in Beck Row near Mildenhall into 81 homes for shared ownership and 34 homes for affordable rent, with the first homes expected to be ready at the end of the year.
The site comes with planning permission and the development is expected to be fully completed by late 2020 comprising of a range of homes from one-bedroom flats and bungalows through to four-bedroom family houses.
Philip Browne, new business and partnerships director for Clarion, said: “We are pleased to be working with Lovell to deliver much-needed new housing for Suffolk. Thanks to our financial strength, we have been able to acquire this site and ensure that all of the homes being delivered at this scheme are affordable.”
Clarion is targeting delivery of 50,000 new homes nationwide over ten years, two-thirds of which will be affordable, and already owns and manages more than 500 homes in Suffolk.