New shared ownership homes available in North Prospect Phase 5

Shared ownership homes will be available in Phase 5 of the North Prospect regeneration, which has recently benefitted from a slice of government cash.

Plymouth Community Homes will get £2.6m from the Homes and Communities Agency (HCA) to build new homes in Phase 5.

The phase was put on hold last year while PCH awaited the outcome of its funding bid to the HCA.

The HCA recently approved a bid by Partnership South West – a consortium of South West housing associations – for £14.6m to build 500 homes across the region. In addition Plymouth City Council has committed £950,000 of its own funds to the scheme.

PCH’s share is for 62 homes and it hopes to get further affordable rented funding for an additional five homes.

The properties include 30 homes for shared ownership and 37 for social rent.

In addition, 66 properties will be available for open market sale, meaning Phase 5 will have an anticipated 133 new homes when complete – subject to planning permissions.

There will be a combination of flats and one, two, three and four bed houses.

Planning permission is expected this autumn and the first affordable homes in this scheme are expected to be ready by the end of March 2021.

In addition to modernising and improving the overall look of the estate, the new homes will be energy efficient and have lower fuel bills.