Work has started on a new £1million affordable housing development at the former Scotland’s Housing Expo site, providing nine new homes for rent under the Scottish Government’s innovative National Housing Trust (NHT) initiative.
Developed by Inverness-based Compass Building on behalf of Albyn Housing Society, the Balvonie Braes development will provide a range of four flats and five terraced homes for mid-market rent and will be completed by August 2015.
Albyn Housing Society is the first registered social landlord to deliver new homes as part of the NHT initiative, which was developed by the Scottish Government and Scottish Futures Trust (SFT) to help increase the supply of homes at affordable rent in areas where there is
The scheme will allow tenants to rent their homes at affordable mid-market rates for at least five years before being given priority to buy the property at the end of the rental period.
Calum Macaulay, chief executive at Albyn Housing Society, said: “There is huge demand for housing in Inverness at all tiers of the market, and by developing new and innovative schemes such as the NHT initiative we can assist more people to secure quality affordable accommodation and make the next steps towards home ownership.”
The new development will also provide work to the local construction industry. In addition to Compass Building, ArchialNorr, Fairhurst and Partners, KLM Partnership and Armour and Partners have been appointed to provide design, engineering and consultancy services.
For more information about Albyn Housing Society visit www.albynhousing.org.uk