affordable housing in affluent areas - a contradiction or overlooked necessity?
Developing in the WA14 area, with some of the highest house price premiums in the country, has posed this very real challenge to Novo in recent years.
When assessing the market, there was simply no comparable data to inform our approach. Was the lack of affordable housing because of no demand in such ‘unaffordable’ areas, or simply, that there had been no supply? Novo assumed the latter, resulting from a generation of developers opting to make off-site affordable contributions, rather than delivery direct into the local market.
Hedging that the market had been systematically undersupplied, Novo implemented a centre stage approach to affordable homes within an array of projects. Developments that took an ‘inclusive’ stance, standing next to ‘exclusive’ homes with an aspiringly high value. An uncompromising approach to design has allowed the different tenures to blend in seamlessly.
Working with Trafford Council, Trafford Housing Trust and Southway Housing, Novo have made a significant contribution to meeting Trafford’s housing needs. Critically, the example established has shown how affordable homes can be delivered within affluent areas.
Novo is now inviting expressions of interest for its latest development, The Stamford Arms, in Little Bollington. Due to complete later this year, Novo is restoring the prominent main building into a 100% shared ownership block. The development is the first in the area for years, something that has been wholeheartedly embraced by the local community.
Interested parties should contact firstname.lastname@example.org, the closing date to register is 29th April 2022.