The homes will be handed over to L&Q, one of the UK's leading charitable housing associations, and made available through Shared Ownership or affordable rent. Under the Shared Ownership scheme, buyers are able to part-own and part-rent their homes, which offers first time and low-income buyers a chance to get onto the property ladder with a lower deposit.
An additional 120 affordable homes are also being built on the site, making a total of 196 apartments and houses available through the Shared Ownership scheme or for affordable rent. When the project completes, there will be 137 shared ownership apartments, 51 affordable rent apartments and 8 affordable rent houses.
The homes are part of Green Park Village, a community which will eventually be home to over 2,500 people, which is centred around a 9-acre lake with walks, trim trails, play areas, green open space and a new market square with a proposed coffee shop. A two-form entry Primary School is also opening up this September.
Paul Vallone, Executive Chairman of St Edward said:
"This is a very proud day for all of us. These homes are another milestone in our thriving lakeside community where residents can enjoy a fantastic quality of life. All our affordable homes are tenure blind and built to a high standard."
Craig Luttman, Group Director of Development and Sales at L&Q said:
"We're delighted to have marked this important milestone by celebrating with our partners at St Edward. Our homes at Bankside Gardens will make it possible for many first-time buyers and families to get onto the property ladder for the first time, within this fantastic lakeside community at Green Park Village.
L&Q and Berkeley have a proud record of working in partnership to deliver inclusive and sustainable communities, including Huntley Wharf, an exciting new destination along the Reading riverside launching in 2021."