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£75m to increase number of affordable houses in Warrington

Housing developers Torus have announced £75m worth of investment to create social housing in Warrington. 

The regeneration of Warrington is part of a 20-year vision held by the council and includes the development of more affordable homes in the area.

Torus is the largest provider of social housing in the borough and the group will work closely with the council to identify the areas that are in need of direct investment.

Currently, 466 homes are in the development process and a further 130 are in the pipeline.

The homes will be a mix of rent and ownership through affordable solutions like shared ownership and rent to buy.

The development of 144 apartments in the area are also underway and will offer a choice of one and two bedroomed apartments available through rent to buy.

According to the council, this scheme will help make the transition from renting to buying easier and more affordable by offering a subsidised rent with the option to purchase after five years.

Managing director of Torus Developments, Chris Bowen said: ‘As one of our key heartlands, Warrington, its communities and the people who live in them are a priority for us.

‘Our vision is to grow stronger communities and providing affordable housing plays a huge role but it’s only part of what we do.

‘Any profit we make from the sale of our homes is reinvested back into our communities where our charity, Torus Foundation helps people maximise their income, find work and improve their chances in life. Not only does this add real value to the work we do, but it also supports the Council’s wellbeing agenda.’

Warrington Borough Council Leader, Cllr Russ Bowden, said: ‘We know how important it is to provide a diverse mix of housing which meets the needs of all of our residents, from first-time buyers and growing families to older residents and vulnerable people.

‘That’s why I’m delighted to see such a range of properties being delivered, offering so much choice – including affordable rent, shared ownership and rent-to-buy. I’m also delighted that every single one of these homes is being built on brownfield sites.’

Photo Credit – Pixabay

 

 

 

 

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