Wates Living Space and the Homes and Communities Agency have joined forces in a £9m scheme that will see 75 news homes built in Aylesbury, Buckinghamshire.
Construction on the Drake’s Place project is set to start in mid-November this year, with initial preparatory works starting this month.
The joint venture will include 49 homes built for private sale, 20 for affordable rent and six for shared ownership, all split across one and two-bedroom flats and two and three-bedroom houses.
A joint planning application by Wates Living Space and the HCA was granted permission by Aylesbury Vale District Council in spring 2013 and the parties have now entered into a joint venture to deliver the scheme.
They will share in both the sales risk and the returns generated by the sale of the private homes in the scheme.
Wates Living Space has said that the first homes will be completed and ready for occupation by late summer 2014.
Wates Living Space partnership housing director Andy Doylend said: “What Wates Living Space has managed to do in partnership with the HCA in Aylesbury is put together an innovative scheme to bring this redundant brownfield site, which has lain vacant for years, back into use to provide much-needed homes for the local community.”
HCA senior area manager Dan Myers added: “Bringing forward surplus public land for development to drive housing growth is an important goal for the HCA, so it is great news that these new homes will be built at the Bearbrook House site.”