Mulbury is to build 46 new shared ownership homes in Gorton, east Manchester, on behalf of Southway Housing.
The homes will be built on a prime spot of empty brownfield land neighbouring a public park on Vine Street in Gorton.
It is Didsbury-based Southway Housing’s first affordable shared ownership scheme and offers the opportunity for low-cost home ownership for those who may not be able to purchase outright.
The development will comprise 46 homes of the 291 allocated to Southway Housing through the Shared Ownership Affordable Housing Programme (SOAHP) – a £7bn national project that will mainly be used to create shared ownership homes.
Building work will begin on site in October 2017, with the first homes being released for sale in January 2018.
Karen Mitchell, chief executive of Southway Housing, said “We are really proud to start offering a new route into home ownership for people who may not be able to afford to get on the property ladder in a difficult market. Due to funding shortages within the social housing sector, it is necessary for organisations like us to take a different approach in addressing the housing crisis.
“By entering into the shared ownership market, we can ensure there is a wider variety of affordable housing available, and also alleviate the funding gap, with any profits made being put back into our core area of affordable social homes.”
Greg Mulligan, director of Mulbury, said: “We’re working with housing providers across the region to help them bring forward development sites that provide a tailored solution to housing need. We’re proud to be working on behalf of Southway Housing to help deliver this important shared ownership development.”
Pictured above are (Left to Right) Greg Mulligan, director of Mulbury, Karen Mitchell, chief executive of Southway Housing, and Duncan Smith, Southway’s strategic director of business development.