Community secures £1.1m for housing project
One of the largest community-led housing schemes in England has been awarded nearly £1.1 million to build homes on a former Rolls Royce site in Derby.
The Homes and Communities Agency money will allow Osmaston Community Association of Residents to go ahead with building 80 new homes, including 40 for affordable rent that it will own.
Residents formed the group after a Derby Council regeneration scheme stalled and have worked for the past year to secure the £1.08 million from the HCA.
Anthony Slater, chair of OSCAR, said: ‘Derby Council had made a similar application to the HCA back in 2011 for just 50 properties on part of the site but were unsuccessful, however we were aware of the HCA’s community-led programme and that if residents led the scheme and we worked together with our partners, we could achieve a larger development for the area and create more homes for local people.’
The group’s scheme has been approved by the council which means the land will now be transferred to OSCAR on a 125-year lease at a token rent. OSCAR will also have the option to buy the freehold in 30 years after they have repaid an additional low-cost council loan that will be used to build the homes.
The council will also do the remedial work on the site to prepare for the development. The residents have appointed Derby Homes, the council’s arm’s-length management organisation, as their development agent.
Mr Slater said: ‘The unique status of Derby Homes as an ALMO means they have been able to work with local residents to help establish and support us to the stage where we are now employing them to act as our development agent and manage our affordable homes in line with our local lettings and management policy.’
OSCAR will now register as a housing provider and work with the developers to submit planning permission for the scheme by December 2012. The group aims to start work on the site in April 2013 and finish the first phase of the development by February 2014 and the second phase in June 2014.