Ballymena: Co-ownership residents take up home in 'transformational' mixed tenure development
Co-Ownership residents have taken up home at the new mixed tenure St Patrick’s development in Ballymena.
Built by Radius Housing, with MJ McBride Construction as lead contractor, the site’s 135 dwellings have been completed to a full turnkey specification. Ten of them have been made available for Co-Ownership customers. The remaining 125 houses and apartments will support Radius Housing tenants.
Glynis Hobson, director of customer services at Co-Ownership, said: “We are delighted to buy these new shared ownership homes with our customers. This is a transformational project, where modern and affordable homes exist within a shared community space, demonstrating how successful mixed tenure developments can be where tenants and homeowners live side by side.
“We are grateful to Radius Housing for delivering these homes. We look forward to continuing to engage councils, housing associations and local developers as we help our customers access more new, affordable homes.”
The St Patrick’s site spans 15 hectares and is a strategically important location. The regeneration project will also see Mid and East Antrim Borough Council deliver a leisure and wellbeing centre, a new civic space and PSNI station, links with the new neighbouring Northern Regional College campus, improved road infrastructure, and foot and cycle paths.
Co-Ownership has helped more than 35,000 households into home ownership since it was established in 1978. A total of 9,000 households have been supported over the past decade, with the value of these purchases exceeding £1 billion in property value.
Glynis said: “To address the housing crisis, we need to build the right homes, in the right places. Local Developments Plans have the potential to be a gamechanger in delivering a greater supply of affordable homes.
“Northern Ireland’s Local Development Plans - now adopted across six council areas - require new residential developments over a certain size to provide affordable housing. This changes the way residential developments are being delivered here, with more becoming mixed tenure, meaning they include a mix of private, social, and shared ownership homes.
"This is positive – it’s providing new build homes for our customers that would not otherwise be available.”
The shared ownership model allows people to purchase the share of a home they can afford, between 50 per cent and 90 per cent, with Co-Ownership purchasing the remainder.