127 affordable homes announced for Portishead
Alliance Homes has announced its intention to purchase the vacant Marina Gardens development in Portishead, to bring forward 127 new affordable homes for sale and rent.
The Marina Gardens site is being purchased from retirement living provider Pegasus Life and will see Alliance Homes bring a 100 percent affordable housing scheme to the town. Subject to planning, it is proposed that 65 of the homes will be offered for social rent, 38 for shared ownership and 24 will be available for rent to buy.
The development comprises a range of facilities including a café/restaurant, spa and hydro pool, gym and office/meeting space. A strategy is being developed to consider the long-term use of these spaces and opportunities to provide local community benefit.
The site was completed in the summer of 2019 and was originally designed as a 100% open market sale scheme for luxury retirement living. The property has remained vacant following a reduction in demand for assisted living homes in the area, prompting alternative opportunities to be considered.
Iain Lock, Director of Investment at Alliance Homes said: “This is a really exciting opportunity for Alliance Homes and will bring much needed affordable housing to Portishead – an area we know is characterised by high demand for housing coupled with affordability challenges. This is a high-quality scheme which offers different entry routes for customers on their housing journey and reflects the diverse needs and aspirations of the local community.
“We are in the early stages of the transaction and will be engaging with the local community as part of the planning process. Ultimately, we want to create vibrant and sustainable communities where customers can thrive, and we believe our proposals will add considerable value to the town”
Huw James, Alliance Homes Board Member and local councillor for Portishead South Ward added: “Portishead is an area where housing affordability is an issue for many. Alliance Homes has shown real ambition in providing a large development with 100% affordable housing right at the centre of the town - especially bringing 65 homes for social rent. This is a real win for Portishead and North Somerset.”
Over the next ten years, Alliance Homes plans to help tackle the national housing crisis by developing 2,000 new homes for sale and rent. Many of these homes will be in North Somerset which helps support North Somerset Council’s ambitions for placemaking and increasing housing supply.