Futures’ new homes boost supply in housing crisis-hit region
An East Midlands developer will officially open a £6m regeneration project to transform a former working mens’ club into 58 much-needed homes.
Futures Housing Group’s development at The Oakes in Leabrooks, Derbyshire, will provide a rich mix of properties as part of its effort to plug the region’s chronic 25,000-housing shortfall.
A special view home will be open to the public from 5 February 2019 at The Oakes which has transformed the former miner’s welfare site, unused since 2008, and will boost the local economy and businesses near the site.
The development is a partnership between Futures, which manages almost 10,000 homes in the region, Engie, Homes England and Amber Valley Borough Council.
Marcus Keys, Group Director of Business Transformation and Growth at Futures, said: “The simple fact is that the East Midlands needs 25,000 more homes in the next five years.
“Futures is doing its bit by working in partnership with local authorities and builders to deliver as many homes as possible and we are on course to have provided more than 1,000 new homes by 2020.
“This latest partnership demonstrates how we are breathing new life into communities while providing quality homes for local people.”
The Oakes is a mix of 27 affordable rent, 25 open market sale and six shared ownership properties. It was been part-funded by Homes England.
Nathan Brough, Regional Director for ENGIE’s Places & Communities division, said: “We are very pleased to have reached this important milestone with our partners and hope that residents will enjoy living at The Oakes when the development completes later this year.
“Our success in Leabrooks demonstrates our commitment to the East Midlands and our substantial growth plans for the region over the next few years.”
Caroline Cormack, Head of Home Ownership & Supply in the Midlands for Homes England, added: “The Oakes is a great example of how Homes England works with partners to deliver housing that meets the needs of communities.
“We’re pleased to see the development completed and ready to provide much needed homes for people in Leabrooks.”
Cllr Paul Hillier, Cabinet Member for Housing at Amber Valley Borough Council, said: “This project is a great achievement on two levels.
“Firstly it is providing desperately needed new homes in the area, and secondly it has transformed a part of the community which had, over the past 10 years, become an increasing eye-sore. We are delighted to have played our part in this excellent scheme.”