Located adjacent to the Showcase cinema on the East Lancashire Road in Croxteth, the scheme which includes funding from Homes England and the Liverpool City Region Combined Authority, will create 88 two, three and four-bed homes which will be available for affordable rent, rent to buy and shared ownership, broadening Cobalt Housing’s tenure offer in this area of Croxteth.
The homes will be managed by Cobalt Housing, and will support Liverpool City Council’s ambition to ensure people living in the local area have the opportunity to access high quality, affordable homes.
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The £12m partnership with Lovell includes a number of social value initiatives which have been developed as part of the pre-contract process. These include work experience opportunities, apprenticeships, local job creation, and the dedicated promotion of sub-contractor opportunities to local SME's.
The development site sits within a designated area of regeneration identified by Cobalt Housing in Croxteth, which has already delivered 57 new homes at Altbridge Park. This sits alongside a much more ambitious programme of estate regeneration works planned at the Stonedale and Stonebridge estates over the next 5 years.
Claire Griffiths, Chief Executive at Cobalt Housing, said: "We are delighted to be working with Lovell Partnerships to deliver more quality, affordable housing that meets local housing need in one of Cobalt’s core neighbourhoods. The existing Stonedale Estate and adjacent areas are a high regeneration priority for us, and providing new homes as well as improvements to our existing estates is a key focus of our emerging regeneration and development strategy. The homes will be accessible to local residents and will also provide alternative forms of tenure including shared ownership which increases tenure choice in this area. Our revised Corporate Plan will be published in the coming weeks, which confirms a significant commitment to regeneration and development in the coming years, with plans to deliver 1,000 new homes."
