A Cheshire housing association has launched a new shared-ownership and sales arm as part of its ambitions to build 500 new homes by 2021.
Weaver Vale Housing Trust (WVHT), which owns more than 6,200 homes across Cheshire, has launched Prospa Homes in a bid to increase housing choice across the county and help tackle the housing crisis.
The organisation claims that as a not-for-profit housing provider, all profits raised from the new venture will be invested back into social housing in Cheshire, helping to improve housing provision and support communities.
To mark the launch, WVHT has announced 27 new homes available for shared ownership at the new Barratt Homes development at Dane View in Northwich, a few hundred metres away from its head office in Gadbrook Park.
“The launch of Prospa Homes marks a proud and pivotal moment in the history of WVHT and will enable us to deliver on our ambitions to build hundreds of desperately needed new and affordable homes of all tenures across Cheshire,” said Wayne Gales, the housing association’s chief executive.
“The housing crisis is no secret with demand massively outstripping supply, and as a long-standing and trusted social housing provider, we firmly believe that we are perfectly placed to deliver the right type of housing that people want, in the right places.
“Cheshire is a fantastic place to live and work, however people are being unfairly priced out of the area, but our vision at Prospa Homes is to make Cheshire-living affordable.”
Other developments in the pipeline, include homes in Arclid Village and Barrington Park in Alsager, with more sites to be announced soon.
Properties available under the Prospa Homes brand are currently available for shared ownership sale and marketed to individuals, couples and families struggling to get a foot on the housing ladder.
WVHT is a member of JV North and working closely with Homes England to access grants for affordable housing, and has committed to using local contractors where possible.
Prices for the first homes available at Dane View, Northwich start at around £68,250 for a 50% shared ownership sale, with full market price £137,000.