Work has begun on 29 homes in Midland Road, West Town by Medesham Homes, a joint development company between Peterborough City Council and Cross Keys Homes.
Council leader Cllr John Holdich (right) laid the first brick. He is next to Dan Gooch from Westleigh Partnerships and Medesham board members Michael Heekin, Eddie Smy and Peter Hiller.
Cllr Holdich said: “This exciting joint venture shows that we are actively working with our partners to tackle homelessness in the city by helping to provide quality accommodation.
“Medesham Homes was set up to provide accommodation to those most in need and will ensure that all tenants are well looked after.
“We currently have around 400 units of accommodation in the pipeline which we will work to deliver in the coming years, helping to meet high demand for properties in the city.”
Claire Higgins, chief executive of Cross Keys Homes and a board member of Medesham Homes, said: “Over the years thousands of Peterborough residents have exercised their ‘right to buy’ which has gradually reduced the amount of affordable homes that are available to rent.
“With CKH’s experience of managing affordable housing and the investment made possible by Right to Buy receipts, Medesham Homes will be able to help reintroduce essential, affordable options to a housing market where demand is currently far outstripping supply.
“Just minutes from the city centre and train station, the new homes on Midland Road will offer an affordable, practical option for people looking to live and work in Peterborough. We’re looking for other sites around the city that will offer people the same chance to build their lives here.”
Cllr Hiller, who is also cabinet member for growth, planning, housing and economic development at the council, said: “The foundations we’ve laid at Midland Road are not just the beginning of 29 new homes, they mark the beginning of a new partnership with a long-term commitment to providing affordable homes across the city.
“Over the coming years we hope to help address the shortage of appropriate homes in Peterborough and are looking into multiple sites with potential for development.”
Mr Gooch, partnership and investment manager for Westleigh Partnerships, which was chosen as construction partner for the scheme, said: “We are pleased to be playing our part in delivering these affordable homes for the benefit of the community in Peterborough.
“These homes are going some way towards addressing the shortage of affordable properties in the local area.
“We would like to thank our partners at both Medesham Homes and the city council for helping us to make the scheme a success.”
The homes on Midland Road are expected to be completed before the end of the year, with the first homes ready for people to move into this summer.