Nottingham unveils affordable housing and shared ownership plans

14-Nov-2005

Aspiring homeowners in Nottingham are set to benefit from proposals to construct a £5 million new property development in the city.

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The plans include space for 55 new homes on the site in Deeping St James, with 25 properties to be rented and 30 properties earmarked for shared ownership schemes.

Although the plans are yet to be officially approved by South Kesteven District Council, organisers are confident that the development will be a success and hope that it will encourage more first time buyers in the city to get on the property ladder.

"We have a wonderful opportunity to improve the provision of affordable housing in the Deepings and to help address the housing needs of the town," Gary Turner, from Nottingham Community Housing Association, told the Peterborough Evening Telegraph.

"Satisfying the need for affordable housing is a major issue nationally and regionally and here is an example of funds being made available to make a substantial contribution to affordable housing provision."

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A number of new affordable homes sites and shared ownership schemes are being approved across the UK as the need for more low cost housing becomes clear.

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