Partner Article

Funding saves homes plan

FEARS that government spending cuts would scupper plans for affordable homes in Durham villages have been allayed with news that Kickstart funding is secure.

Developments at Brandon and West Rainton are two of only six projects in the North East to keep Kickstart round two support, which was allocated before the general election.

The news means that the Durham Villages Regeneration Company (DVRC) – a partnership between the County Council and regeneration specialist, Keepmoat – can continue to build homes for rent and shared equity at the sites.

At The Leas, Brandon, Keepmoat Homes is constructing a total of 61 homes, of which 14 will be for rent through the Durham Aged Miners Housing and NomadE5 Housing Associations and a further dozen will be available for shared ownership through the HomeBuy Direct programme.

It was these homes which were under threat when the new coalition government put a freeze on funding but this week the green light has been given and all 26 will go ahead.

And it’s a similar story at Westfields in West Rainton where Keepmoat Homes will build another 12 HomeBuy Direct plots.

The scheme provides an equity loan of up to 30% of their home’s value - funded equally by the developer and the Homes and Communities Agency (HCA).

No fees are payable on the loan for up to five years – unless the house is sold.In addition, Keepmoat Homes plans to build a further 12 homes for sale at Bearpark, where construction is already underway on some of the first council houses to be built in County Durham for a generation.Managing director and DVRC board member, Richard Bass, said: “We are delighted to have retained the Kickstart support, originally announced earlier this year. It will enable the creation of many more affordable homes in Durham communities.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .