Torus housing group to build more than 1,600 new homes in North West
North West housing group, Torus, a partnership between Helena Partnerships and Golden Gates Housing Trust, has today unveiled ambitious plans to build more than 1,600 affordable new homes over the next four years.
Accelerating a new build programme that has already successfully delivered hundreds of new homes in Warrington, St Helens and West Lancashire, Torus will also be developing homes in Southport, Northwich and Wigan.
Catering to a wide range of housing needs, the new homes will be a mix of one, two and three bed apartments, houses and bungalows. These will be offered for affordable rent and shared ownership, also known as part buy, part rent, which helps potential buyers get onto the property ladder in an affordable way.
Torus development director, Bill Lacey comments: “The affordable housing market has gone through a challenging time of late but we are committed to delivering the homes people need at a price they can afford.”
As a member of the JV North consortium of social landlords, Torus will receive an £11.6m share of an £87m grant from the Homes & Communities Agency’s Shared Ownership Affordable Homes Programme which will contribute to their ambitious development programme.
In order to sustain its development programme, Torus has also created a non-funded build model which will bolster the delivery of new homes.
Bill continues: “This is an exciting time for us. We’re extending our reach into new areas of the North West and working in partnership with more local authorities to give more people the opportunity to rent or buy a new home easily and affordably.”
Torus is currently developing more than 180 new homes in Warrington, 34 homes in Davenham, Northwich and 57 new homes in St Helens and Newton-le-Willows.
Spring 2017 will see build start in Farndon (Cheshire West), Ormskirk (West Lancashire), Leigh and Wigan.