LiveWest and national house-builder Bovis Homes will deliver 2,000 new homes across the South West for shared ownership, affordable rent and for sale on three sites as part of a strategic partnership.
As the largest housing provider of affordable housing in the region, providing these homes will significantly contribute to LiveWest’s ambitious plans to deliver 16,000 homes over the next 10 years - which equates to a £2billion investment into the South West economy.
The joint venture will see 678 new homes built in Exeter, 398 in Tavistock and the latest scheme to be announced will see 831 new homes built in Taunton.
The homes will be built over the next 15 years, with the first homes set to be completed in Tavistock from August 2021. The investment will create local jobs, apprenticeships and other opportunities.
Russell Baldwinson, LiveWest’s Executive Director of Development, said: “We’re pleased to be working with Bovis Homes to build much-needed housing, and provide local people and families with secure, long-term homes that they can afford to buy and rent.
“Livewest is continually looking at innovative ways to provide new homes, and being involved in commercial ventures such as this enables us to generate profits that we can reinvest into building more affordable homes in areas where there is a significant need.
“These three developments mean we provide the affordable homes that would have come forward through planning, but also additional affordable housing which LiveWest and Homes England are funding.
“With our ambitious strategy to build 16,000 homes over the next 10 years, we are looking forward to working with Bovis Homes across the South West on the next phase of our plans.”
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Keith Carnegie, Chief Executive of Bovis Homes’ partnership housing division, said: “We are delighted with our joint venture with LiveWest to deliver much-needed, quality homes in the South West.
“This project will transform the area and shows our commitment to housebuilding in across the region, boosting investment and jobs. We look forward to a fruitful, long-term partnership with LiveWest.”
Both the Taunton and Exeter developments have benefited from government-grant funding from Homes England.
Peter Jones, Head of Affordable Housing for South West, at Homes England, said: “It is great to be working with LiveWest and Bovis Homes in funding this development, designed to meet the needs of local people.
“This is an excellent example of Homes England working with partners to build more homes faster, helping communities and providing affordable housing. We look forward to increasing the supply of affordable housing in key cities and towns in the South West.”
LiveWest and Bovis Homes are also making financial contributions across the three sites including local shopping centres and community hubs. Further investment will be made to improve roads and sustainable travel initiatives.