Town centre retirement complex to become apartments
- Credit: Alliance Homes
More than 100 affordable apartments are set to be unveiled in Portishead's centre after a multi-million-pound deal was struck to convert an abandoned retirement block.
Marina Gardens has been purchased by social housing provider, Alliance Homes in a £27.8million acquisition with grant funding from North Somerset Council and Homes England.
Earlier this year, Alliance Homes had requested a change in permission for the retirement complex to become social and affordable housing.
Alliance's director of investment told the Times the deal was one of the largest for a completed development in the region, but one that was needed.
Iain Lock said: “We are really proud to be bringing so much affordable housing to Portishead – an area characterised by supply and affordability challenges.
"Marina Gardens will provide a range of entry routes for customers and with nominations from Portishead being prioritised for rented homes by North Somerset Council, it will reflect the needs of the community."
The council's deputy leader, and executive for housing, told the Times that he hopes the deal is not the last to promote affordable housing across the district.
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Cllr Mike Bell said: "I am pleased that the Marina Gardens project is moving forward and congratulate Alliance Homes on this innovative scheme.
"The shared ownership affordable homes, which have been purchased in partnership with Homes England and North Somerset Council, will help meet local need for families in Portishead and those who wish to live there."
Cllr Bell stressed that landlords must also play a role in enabling more people to get onto the property ladder in North Somerset.
He added: "Affordability remains a big challenge across North Somerset as people look to get on the property ladder or rent a home.
"It is important that social landlords and the council alike continue to invest to help bring homes within reach of those who need them."
In total, 127 studio, one and two-bedroom homes will be built by Alliance Homes which are likely to be available to buy or rent in the new year.