The North West affordable housing group Torus has acquired a site from Knowsley Council to deliver a £24 million housing development in Huyton.
Torus will work in partnership with the council to deliver 131 two-, three- and four-bedroom homes on the disused site, located at Knowsley Lane and Astley Road. The homes will be built by Torus’ in-house contractor HMS.
The move continues Torus’ recent investment in Knowsley following the opening of Torus’ £25 million extra care scheme The Maples in Kirkby earlier this year.
Torus Developments’ managing director Chris Bowen said: “Our Merseyside heartlands remain a key priority for Torus and we will continue working with the council to regenerate disused land and build affordable homes, suited to the individual needs of the people who live in the area.
“As a Group, working with HMS on this scheme means we are in the unique position to be able to reinvest all commercial profits from the scheme back into the community via our charitable arm – Torus Foundation.
“Our Knowsley Lane and Astley Road site will add real value to the area in more ways than one; by providing employment opportunities, affordable homes and improving people’s wellbeing.”
Torus is working closely with Knowsley Council to support its plans for regeneration and modernise the borough’s housing offer.
The 131 homes at the site in Huyton will all be made available for Rent to Buy to support the council’s housing strategy.
The government-backed Rent to Buy scheme aims to help people get on the property ladder affordably by giving eligible people the opportunity to rent at 80% of market rent, allowing them to save for a deposit.
Once tenants have lived in the house for five years, they will have the opportunity to buy the property outright or convert their home to shared ownership.
Cllr Tony Brennan, cabinet member for regeneration and economic development on Knowsley Council, commented: “I’m delighted to see Torus’ investment in this site to provide much-needed quality and affordable homes here in Knowsley.
“The development will create greater choice for residents as well as attracting new residents into the area. I look forward to seeing progress over the coming months.”
Torus is the North West’s largest provider of affordable homes, owning and managing 40,000 homes across the Liverpool City Region and Cheshire.