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Aberdeen plans £55m housing development

More than 200 “low-cost” homes are to be built in a £55 million city development in Aberdeen, the Scottish Government has announced.

The 209 flats will be constructed at a former paper mill beside the River Don in Aberdeen. They will cater for singles, couples and families and vary from one to four bedrooms.

The Scottish Government will pay £21 million towards the scheme and local housing associations are spending £12 million.

The remaining £22 million of the funds needed will be provided by two housing associations and private finance.

Housing Minister Alex Neil said: “This development marks a historic milestone for social housing in the north-east.

“It is the biggest project of its kind ever undertaken in the region, which will not only offer quality affordable homes for local families but will also provide a tremendous economic boost for Aberdeen.

“It is excellent news for the hard-pressed local construction industry and related businesses.”

The properties will be for rent or shared equity, which allows people on lower incomes to take a stake in a home.

The development is scheduled for completion in 2014 and will include offices, business start-up units, a children’s nursery, shops and 77 private homes for sale.