County Durham Housing Group to invest £30 million in new homes
A North East landlord has announced plans to invest more than £30 million in new homes across the region.
County Durham Housing Group is set to build up to 297 new homes in towns, cities and villages between the Tyne and the Tees over the next three years.
Work is already underway in several locations, with 17 sites set to be completed by 2020. The total investment in new homes by the group during that time is expected to reach £32 million.
The new homes will help to regenerate communities from rural Weardale to former Durham mining communities and the suburbs of Sunderland, whilst meeting demand for social housing, it is claimed.
The needs of each location have also been carefully considered with smaller properties such as bungalows being constructed alongside larger family homes, and rent to buy options being offered as well as affordable rent.
As well as constructing purpose built new homes, County Durham Housing Group said it is also working with some of the region’s largest private sector house builders to help secure affordable homes on their developments.
The group’s chief executive, Bill Fullen, said: “This significant investment in new homes will give a major boost to communities across the north east. It will bring new jobs during construction, transform derelict sites and crucially it will provide new, high quality, affordable homes.
“In such uncertain times, our investment will create extra security for tenants and demonstrates our ability to deliver extra homes in new and innovative ways.”
The group, which is the umbrella organisation of landlords Dale & Valley Homes, Durham City Homes and East Durham Homes owns around 18,400 properties, marks its second anniversary this month.