Evolution, a consortium between Thames Valley Housing and Kier, has signed contracts with Woking Borough Council to deliver a mixed-tenure housing development in one of the highest value areas in South-East England.
Since being selected as the Council’s preferred bidder for the project in November 2012, Evolution has worked with the Council to achieve planning consent for 224 affordable rented homes and 147 for market sale. Of the total 371 new homes, which have been designed by PRP Architects, almost 80% are houses and just over 20% are apartments.
The 224 affordable rented homes will be built by Kier and then be managed and maintained by Thames Valley Housing for 25 years. Over this contract period, the Council will receive PFI grant support from the Department for Communities and Local Government to help fund the consortium’s provision of the affordable rented housing. After the 25 year PFI contract period, the homes will continue to be let by Thames Valley at affordable rents in perpetuity.
Work on site will begin immediately now that contracts have been signed, with completion of the first affordable homes expected to be in early 2015. The rest of the homes will then be completed in a steady stream over the subsequent two years.
Geeta Nanda, CEO of TVH, commented, “We are thrilled to be delivering such a large quantity of affordable family homes in this expensive part of Surrey. The new homes will be accessible to families and households in real housing need, and we are grateful to our local authority and central government partners for their support in helping us deliver this.”
Cllr David Bittleston, Portfolio Holder for Housing, said: “This is a hugely important housing project for the Borough. With so many local people on our Housing Register waiting for decent, affordable social housing, these new homes, when built, will help meet growing local demand. By taking the PFI route, the Council is able to deliver a step-change in the provision of affordable housing within the Borough, while contributing significantly towards the requirements set out in the Council’s Core Strategy.” Chris King, managing director at Kier Homes commented, “We are delighted that the procurement and planning process for this exciting development is drawing to a close and a start on site is imminent. The design and layout of the development and the careful integration of a range of tenures will ensure that the scheme is both aesthetically pleasing and sustainable, providing Woking with a high quality residential environment for many years to come.”
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