Lovell Partnerships has started work on a £10 million affordable homes scheme going up on Leicester’s Waterside regeneration area.
The housing scheme is the first it has secured in the East Midlands as part of its strategy to expand into the region.
The £500 million turnover business has its headquarters in Tamworth.
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Leicester Mayor Sir Peter Soulsby attended a ground-breaking ceremony on the land, along with representatives from Lovell and Nottingham Community Housing Association (NCHA).
Lovell will be working with the housing association and GS Residential to bring 82 two, three and four-bedroom homes to the city.
The first homes will be completed in January.
The 4.8 acre Abbey Meadows Road site is 200 yards from the National Space Centre and the city’s Abbey Park.
The transformation of the Waterside area – a huge swathe of previously derelict industrial land, stretching along the River Soar and Grand Union Canal down the full western side of the city – has taken decades to start and now includes hundreds of new houses and student flats, two new hotels, Grade A offices, leisure complexes and workspaces.
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Conservative estimates have put the total investment at around £250 million.
Sir Peter, who has championed the regeneration plans, said: “I’m very pleased to welcome this development at Abbey Meadows, where it will complement the extensive regeneration work we are doing along Leicester’s waterside, as well as providing much-needed affordable homes and helping to encourage further investment in the area.”
Chris Timmins, East Midlands area director at Lovell, said: “This project is our first in Leicester since 2011 and plays in integral part in our growth plans across the East Midlands, whilst reducing the shortage of affordable homes across the region and meeting the demands of local communities.
Allan Fisher, director of development and assets at NCHA, said: “The pandemic has been the cause of many project delays, including this new development for Leicester.
“It’s great that building work can now begin, and we’re looking forward to the completion of these new affordable homes for people in the city.
“Our thanks go to our partners Lovell and GS Residential, for their continued dedication to the project, despite the recent setbacks.”
This new partnership is the first part for Lovell’s growth plans into the East Midlands.
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This business is in discussions with local housing associations and key land owners to unlock further land to build homes.
Lovell is part of the £2.8 billion Morgan Sindall Group which operates in six divisions: construction & infrastructure; fit out; property services; partnership housing; urban regeneration and investments.