Home consults on multi million pound investment plan

Wednesday 18th November 2009

Residents of Lance Way, High Wycombe, had their first opportunity last week to shape a five year redevelopment plan. Home Group held a week’s consultation at the proposed site for customers to discuss and share ideas on the major, long term investment plans for the area.

The plans, from one of the leading providers of affordable housing, will see the replacement of the existing 142 flats with a range of new properties at an estimated cost of £25 million. Lance Way was built nearly 30 years ago by Collingwood Housing Association and Home took over management of the estate in 1981. Home is consulting on its proposals to build 168 new properties replacing the current housing stock as the design and internal layouts no longer meet requirements.

Homes will be available through a variety of tenures - including affordable rent, New Build HomeBuy* (shared ownership) and Shared Equity** - providing more options for local people looking to rent or buy. The proposals include a mixture of houses with gardens and apartments with balconies. All the properties will be designed to an excellent standard and surpass Building Regulation requirements on energy efficiency, water usage and access.

Feedback received from Home customers was very positive with a number commending the organisation on its approach. One customer said: “Looks good so far. Now my family are grown up I am hoping to move from my current house into a flat with a balcony or a roof terrace so I can enjoy the view over the Chilterns.”

“We are at the very beginning of an exciting and challenging journey,” said Jonathan Higgs, Managing Director Home South, “and it is vital that our customers get involved. Our goal is to provide high quality housing supporting customers and neighbours in creating a vibrant, friendly and safe place that people want to live. We are committed to ensuring that our proposals suit the genuine needs of local people before we develop our final plans.”

* New Build Home Buy is a form of low cost ownership enabling people who are eligible to buy a share of a property,e.g. 40% and pay rent on the remaining equity. Customers have the option to increase the amount of equity they own.

** Shared Equity gives first time buyers the chance to buy a new home at 75% of its market value. There is no rent payable on the remaining 25% which is only repaid if the property is resold.

1. The new homes will achieve a Code for Sustainable Homes level 4 (out of a possible 6). The Code is the Government’s measure of sustainability for new housing assessed against a range of criteria including carbon usage (for water, space heating and lighting), enhanced ecological value/bio-diversity, use of ‘green’ building materials, reduced water consumption etc. The majority of affordable housing is built to level 3 of the Code.

Posted by Kim for Home Group