News

19 July 2010

Housing chief supports innovative new approach to providing affordable homes

100th HouseThe chief executive of the National Housing Federation visited County Durham last week (Friday, 16 July) to show his support of an innovative new way to tackling the lack of affordable housing.

David Orr joined staff and tenants from Prince Bishops Homes to hand over the keys to its latest development at Tyne Vale in Stanley.

The three bedroom, three story town house is the 100th property the company has acquired since it was launched in December 2008 by Derwentside Homes as part its drive to provide local residents with the opportunity to get a foot onto the property ladder.

Prince Bishops Homes predominantly buys unsold properties from developers then makes them available for rent, with an option for residents to buy in the future and share any capital gains.
This innovative new approach comes at a time when properties are not selling and the new coalition Government are making cuts to funding new developments. The company offers these homes to people who have been priced out of the market and would never qualify for a home from a housing provider.

The National Federation represents over 1,200 housing organisations across England and supports and promotes the work that housing associations do by campaigning for better housing and neighbourhoods.

Federation chief executive David Orr saw at first hand the work that Prince Bishops Homes has achieved since it was formed. He also visited Derwentside Homes’ new head office and a brand new award winning sheltered housing scheme which is set to raise the standard of accommodation for older people aged 55 and over.

He said: “This is a fantastic landmark and highlights that housing associations are committed to providing quality homes in sustainable communities. The huge variety of work undertaken by Derwentside Homes has a real impact on individual lives and is helping create better neighbourhoods in the North East.”

Keith Tallintire, Chief Executive of Prince Bishops Homes said: “This is a major achievement for the company and the area. Since our launch, we have improved the lives of a number of families and when coupled with the major investment being made by Derwentside Homes, we are making a significant impact across the district. Prince Bishops Homes is well on track to deliver our target of 200 new homes.”

Full time bus driver and mother of three, Shirley Ramshaw (33) received the keys to her new home and said: “I am delighted to collect the keys to my new home. The house I am currently living in is too big and not affordable. This brand new home is ideal for me and my children and it also provides me with an opportunity to buy the house in the future. My sister is also collecting the keys to her house this morning so it will be nice to all live in the same street.”

The new homes at Tyne Vale were developed by Ben Bailey Homes and will be managed by Derwentside Homes. Each three bedroom property offers flexible family accommodation and a stylish layout including large lounge, open plan kitchen/dining area.


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