The first phase has almost 9,000 square metres of build space and a total development cost of approaching £18m. The scheme is financed and owned by Funding Affordable Homes Housing Association (FAHHA) supported with grant from Homes England. FAHHA is a wholly owned subsidiary of Funding Affordable Homes (FAH) a social impact company with the objective of helping to tackle the severe shortage of affordable housing in the UK.
Southern Housing Group will operate and manage Ryde Village providing care and support to those residents needing it. Southern Housing is one of the largest Housing Associations operating on the Isle of Wight and is a specialist in delivering the care and support elderly residents need.
Morgan Ashley’s partners have worked closely together with local estate agent Hose Rhodes Dickson to create a new website for the development. This has recently been launched and can be found at www.rydevillage.com. The website contains information on the development and showcases exciting computer-generated images of how the development will look as well as contact information for those interested in learning more about the new homes.
Located in the seaside town of Ryde, the scheme includes in its first phase 75 extra care apartments and 27 bungalows. All of these homes are available as affordable housing either for rent (from Spring 2020) or shared ownership (at the end of Autumn 2019). A second phase will follow with housing available for open market sale.
On the Isle of Wight with nearly 1 in 5 of the Island population aged over 80 (compared with just over 11% nationally) and nearly 29% of the population aged over 65 (compared with 12% nationally) the island is a “generation ahead” of the rest of England.
This extra care housing scheme will offer elderly and disabled people another housing and support option, whereby their independence can be is maximised and their quality of life safeguarded and enhanced.
The extra care scheme (Kleo Friend Apartments) comprises 63 one bed apartments to rent and 12 two bed apartments on shared ownership on a complex that will contain and 12 two bed apartments in a building that contains communal and care facilities allowing residents to have access to care and support in the same building as their apartments. Next to the apartment block are 27 two bedroomed bungalows available on a shared ownership basis and these will also benefit from the care and support services available on site.
Laurence Basturkmen, Director of Later Living, commented:
“This marks a step nearer the exciting prospect of long-awaited, brand new extra care facilities which will enhance the quality of life for the residents of the Isle of Wight community and provide state-of-the-art, fit-for-purpose residential developments along with a full range of services”
“We are delighted to have reached this exciting stage of development. This mixed tenure scheme for older residents on the Isle of Wight is the first to be delivered by Morgan Ashley. We have high quality partners with Funding Affordable Homes who are funding and owning the scheme, and with Southern Housing who will manage the homes. We appointed long-established local building contractor Stoneham Construction who are based only a few miles from the site therefore the scheme has created a positive social impact during the build as well as once local people move in.”
For more information and the associated press release please see link below