Thursday, July 7, 2022
UK

Plan to extend housing development in East End

housing development

The homes are at the north-east of the large 10 hectare site, close to Duke Street and Bellgrove Street

Plans to double the number of homes at the old Meat Market housing development site in the East End are moving forward.

Phase one of the masterplan is due to be completed next year with 250 homes under construction.

The homes are at the north-east of the large 10 hectare site, close to Duke Street and Bellgrove Street.

Negotiations are taking place with Home Group, which is building the properties, for the rest of the site, including the north-west end which was previously earmarked for commercial development.

The first phase, a £42.6m ($53.49m) housing plan which includes a grant of £16m ($20.09m) from the council, will create mid-market rent homes. The mix of one and two-bedroom units, across four blocks of up to six storeys, is expected to be complete in August next year.

Phase two will see the development increase to 502 homes.

The second phase close to the city centre and High Street is expected to involve properties for sale with profits reinvested into providing affordable homes elsewhere.

Kenny McLean, Glasgow City Council housing convenor, said in a report to councillors: The tenure mix of the proposed phase two has still to be finalised, however Home Group are proposing that the development will not require financial support from the Affordable Housing Supply Programme, instead they are proposing to utilise a cross subsidy model that they have developed in England.

This will involve recycling profits from housing for sale or market rent into affordable housing for people on lower incomes meaning the new homes would be accessed by a range of household compositions and income levels, promoting tenure diversity, McLean said.

The plan for the Meat Market site is envisaged to fit in with other regeneration projects in the wider area including Wheatley Group’s Calton Village of 123 units for mid-market rent, and another 137 units planned in later phases.

Another 80 units are planned for social rent by Home Group at Orr Street and 77 homes for social rent by Thenue Housing Association at Abercromby Street.

Important:

The articles are for information purposes only and Invest for Property shall not be held responsible for any errors, omissions or inaccuracies within it. Any rules or regulations mentioned within the website are those relevant at the time of publication and may not be the most up-to-date.

Invest for Property does not endorse any of the products or services that appear on it or are linked to it and are not liable for any action that you may take as a result of the content of this website, or losses or damage you may incur doing so.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Please remember that investments of any type may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

Leave a Reply