A council investment of £730,000 will help launch a major development of new affordable homes for rent in Newport, unlocking a stalled housing site in the town.
The total value of the scheme is £4 million and is on previously developed land next to the former Royal Victoria Hotel in the town centre. It is a partnership with The Wrekin Housing Group and Homes England.
It will see 21 new homes for affordable rent built on the brownfield site, meeting a growing need for more homes of this type in Newport and across the borough. Priority for letting will be given to people who have a strong local connection to Newport
The Council’s contribution to the partnership has been funded from developer “offsite” contributions from other developments, so called Section 106 monies, and this sum has been ring-fenced to create more affordable homes in Newport.
The homes will be acquired from a private developer by the Wrekin Housing Group and will be built as part of a bigger scheme to redevelop the former hotel, which is currently stalled.
The Council’s contribution will lever in additional investment of £3.22 Million from various sources including Homes England and Wrekin Housing Trust.
When the development is complete a new public right of way from Water Lane to St Mary’s Street will be created replacing an existing right of way through former hotel site, which is temporarily suspended while the development progresses.
Cllr David Wright, cabinet lead for housing and infrastructure, said: “This is another significant investment into the centre of Newport which is helping to bring a housing site on brownfield forward.
“It will also help to meet a very pressing need for more affordable rental housing in the borough which the Wrekin Housing Group will operate with priority for people from or connected with Newport. It’s another sign of the Council investing to create a better borough.”
Steve Swann, Project Manager at The Wrekin Housing Group said: “We’re delighted to have been able to get this development going again with the assistance of Telford & Wrekin Council.”