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Michael Fallon MP to attend Farningham affordable homes opening
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| Tuesday 21st July 2009 |
Despite the credit crunch, West Kent Housing Association continues to develop affordable homes.
On 29 July at 2.30pm West Kent will be holding an official opening ceremony for its five new homes in Oliver Crescent, Farningham.
The two and three bedroom houses are the first shared ownership properties to be developed by West Kent since the credit crunch hit in autumn 2008.
Barbara Thorndick, Chief Executive - West Kent will be speaking at 2:30pm and Michael Fallon MP has confirmed his attendance.
Delegates will be invited to view the properties and enjoy light refreshments.
Mark Leader, Development Director, West Kent, said: "The number of enquiries we've already had for these homes confirms we were right to build in Farningham - there is a real shortage of opportunities for first time buyers. Our affordability test indicates that buyers will need an income of around £24,000 to be able to afford this first step onto the home ownership ladder - many such households in the vicinity are currently living with relatives or in social rented housing. High property values in the village mean that it is often difficult for young families to stay near their family of origin."
The houses are built to the Code for sustainable Homes level 3, have solar hot water panels to reduce their carbon footprint and are using the latest closed panel timber frame system (SIPS from Innovare). They all have good sized gardens and off street parking. Prices range from £210,000 to £245,000 and buyers will be expected to buy a minimum share of 35% of the equity and pay a rent charge on the unsold equity.
Although the build stage has been very quick with work commencing on site in November 2008 and completing in July 2009, there was a long run up to this date in assembling the site and securing planning permission. The scheme was initiated in 2005 with the Parish Council to secure their support.
This project is funded with grant from the Homes and Communities Agency (HCA) with the support of Sevenoaks District Council.
Our continued partnership working with all from Parish Council, District Council, government agents HCA, and the constructor Osborne all demonstrate what is achievable even in a difficult market to be able to develop these high quality homes
Construction Company:
Osborne
Architect:
Woodward Ambrose
Employers Agent:
FFT
Contract Value:
£771,000 |
| Posted by 0 for West Kent Housing Association |
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