Clarion Housing Group has exchanged contracts with Mid Group to build 152 new affordable homes on the banks of the River Avon in the centre of Bristol.
The proposals for the development received planning consent in June 2019 and include 112 apartments for shared ownership and 40 for affordable rent, making it one of the largest shared ownership schemes in Bristol.
Comprising four blocks up to a maximum of 15 storeys, the development has a Gross Development Value (GDV) of approximately £50 million.
Alongside the homes, which will be a mixture of one-, two- and three-bedroom apartments, there will be three commercial units as well as underground parking and extensive landscaped open spaces for residents to enjoy.
The site on Bath Road benefits from easy access to the city centre and beyond, with Bristol Temple Meads station just a short walk away.
Work on site is due to start in April / May 2020, with the first residents expected to move into their new homes in August 2022.
Richard Cook, Group Director of Development for Clarion Housing Group, said:
“We’re delighted to be bringing affordable and desirable homes to Bristol, providing opportunities for people to enjoy riverside living with easy access to all that the city has to offer.
“This is our first development in Bristol city centre, and is part of our long-term growth strategy for the South West. Working with Mid Group and Bristol City Council, we look forward to creating a thriving community at the heart of the city.”
Councillor Paul Smith said:
Clarion Housing Group aims to help tackle the housing crisis by building high quality homes and creating sustainable and thriving communities. Profits are reinvested to build more affordable homes, improve and maintain existing homes and support communities through the Group’s charitable foundation, Clarion Futures.