The Nationwide building society is to go into house building.
It has received planning permission to build 239 new homes for sale or rent in Swindon, including 30 per cent affordable housing, in a multi-million pound not for profit regeneration project.
The society claims the development “focuses on creating a multi-generational and supportive community, not just houses” and will include green space, a park with children’s play area, and community meeting space.
The 239 homes will be comprised mainly of terraced houses or maisonettes, with a small block of apartments.
All homes will have at least one parking space and either a private garden or access to shared gardens, for those preferring a more communal option.
There will be a mixture of two, three and four bed homes for sale or rent, as well as 71 affordable one, two and three bed apartments and houses.
Nationwide has partnered with Igloo Regeneration to deliver “contemporary designs, using traditional quality materials, creating bespoke homes with light and space through higher ceilings, larger windows and terraces, and a focus on energy efficiency.”
Building is expected to start by the end of the year, with the first phase of homes available from spring 2021.
The development involves a Nationwide investment in the region of £50m over a number of years, though it aims to break even through sales and rentals, with any profits being reinvested in other Nationwide community projects.
The initiative is a key part of Nationwide’s five-year social investment programme.