Alliance Homes to provide 127 affordable homes with purchase of Portishead’s Marina Gardens
Alliance Homes has today announced that it has completed its purchase of the vacant Marina Gardens development in Portishead, delivering 127 affordable studio, one and two bedroom homes for sale and rent.
The site was purchased from retirement living provider Lifestory Group, who completed construction in 2019. The acquisition will see Alliance Homes deliver much needed affordable housing to Portishead, providing quality homes in a highly sought-after area. The purchase follows planning approval for change of use from private sale retirement living to 100% affordable housing.
The £27.8m purchase is supported by grant funding from Homes England and North Somerset Council and supports a shared ambition around place shaping and delivering quality affordable homes.
Iain Lock, Director of Investment at Alliance Homes 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 local community.
“This purchase is one of the largest purchases of a completed development by a housing association in the south west and as such represents our ambition to deliver vibrant and sustainable communities at pace and scale.”
Over the next ten years, Alliance Homes plans to help tackle the national housing crisis by developing at least 2,000 new homes for sale and rent across the West of England