Regenerating key areas across the borough to provide a wide choice of housing is a key strategic goal held by Knowsley Council in order to increase access to modern, high quality homes for people in the area.
Expanding its investment in the area, affordable housing group, Torus, has acquired a significant site from Knowsley Council to deliver a new £24 million housing development at Knowsley Lane and Astley Road in Huyton. The homes will be built by HMS, Torus’ in-house building contractor.
Working in partnership with Knowsley Council, the development by Torus will see the brownfield site repurposed in an area identified for regeneration, bringing 131 two, three and four bedroom homes to the area, adding to a number of significant investments made by Torus in Knowsley in the last five years.
Following the success of its £25 million Extra Care and Supported Living Scheme in Kirkby, The Maples, this latest development demonstrates Torus’ ongoing commitment to working with Knowsley Council to support their plans for regeneration and dedication to modernising the housing offer in the borough.
With its investment, Torus is working closely with the Council to identify local housing need and build the types of homes that are needed, where they’re needed, which is why all homes on this development will be available via Rent to Buy.
A Government-backed initiative, Rent to Buy helps people get on the property ladder affordably and allows eligible working people to rent a newly built home at 20% less than market rent levels, to save a deposit to buy the property after five years or to convert their home to Shared Ownership.
Discussing the scheme, Torus Developments Managing Director, Chris Bowen, said:
“Knowsley is an important area for Torus, and one we will continue to invest in over the coming years.
“Our Merseyside heartlands remain a key priority for Torus and we will continue working with the Council to regenerate disused land and build affordable homes, suited to the individual needs of the people who live in the area.
“As a Group, working with HMS on this scheme, means we are in the unique position to be able to reinvest all commercial profits from the scheme back into the community via our charitable arm – Torus Foundation – so our Knowsley Lane and Astley Road site will add real value to the area in more ways than one; by providing employment opportunities, affordable homes and improving people’s wellbeing.”
Cllr Tony Brennan, Cabinet Member for Regeneration and Economic Development, added:
“I’m delighted to see Torus’ investment in this site to provide much-needed quality and affordable homes here in Knowsley. The development will create greater choice for residents as well as attracting new residents into the area. I look forward to see progress over the coming months.”