Work is underway on the development of 28 new affordable homes in North Shields town centre, thanks to a North Tyneside affordable housing partnership.
North Tyneside Council has sold the former Unicorn House office block site to northern housing association Karbon Homes, a partnership set to bring more affordable home ownership options to North Shields town centre.
Working in partnership with contractor Adderstone Living, Karbon will deliver the original plans for 22 three and four bed houses, and six one and two-bed apartments, with work set to start on site by the end of March 2024.
The 28 new homes will be available for a mix of Shared Ownership and Rent to Buy, a scheme through which rents for the properties are set at 20% less than local market rent. This gives residents the opportunity to save the difference for a deposit towards buying the home in the future.
The redevelopment of the site is part of North Tyneside Council’s Ambition for North Shields and the Fish Quay.
The development will be part-funded through Karbon’s £165m strategic partnership with Homes England, funding which is enabling the housing association to deliver 2,200 much-needed affordable homes across the North East and Yorkshire by 2028.
The development is also backed by the North of Tyne Combined Authority, with £1.3 million from its Brownfield Housing Programme used to fund the demolition of the former office block and prepare the ground for new houses, roads and communal gardens.
Adderstone Living, which is a dedicated social housing division of Adderstone Group committed to tackling the housing crisis by building affordable housing solutions, will redevelop the site, constructing the new properties.
Completion of the new homes is expected by Summer 2025.