Affordable housing specialist Torus Developments has provided £22m of backing to housebuilder Northstone to deliver a residential scheme in Wigan, Greater Manchester.
The deal sees Torus acquire the site from Peel, with Northstone set to deliver a sustainable community, to be known as Popple, providing 113 homes off Stothert Street in Atherton.
The scheme is also being part-funded by Homes England through the provision of £6.6m of grant funding.
Planning consent for the development was secured from Wigan Council last month. The development comprises 33 homes for affordable rent, 12 homes for social rent and 68 rent-to-buy properties. Popple is expected to be ready by autumn 2024.
Jo Allen, land and partnerships director at Northstone, said: “Not everyone is in a position to buy, and many want the flexibility of renting. Popple will mean that those looking for affordable rental homes will have access to the same high-quality new-build homes that are often only open to those who are buying.”
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