Parkway Housing, ...affordable? Options

[wabbit]

Having wondered about the cost of parking in our all new Parkway shopping complex, I thought I would also check out the 'affordable' housing to be offered there.

I couldn't find any details of the official 'affordable' homes, but I was shocked to find that the cheapest 1 bed flat (no parking) being offered for sale is around £194,000. Not only is this not a sensible market price for a 1 bed flat in the area but if housing associations are to be offering these homes to 'the most needy' (which I understand is now the criteria, rather than local 'working' people with local connections), then this seems pretty outrageous.

Maybe someone can explain how this is going to work?

[NewburyP]

Having wondered about the cost of parking in our all new Parkway shopping complex, I thought I would also check out the 'affordable' housing to be offered there.

I couldn't find any details of the official 'affordable' homes, but I was shocked to find that the cheapest 1 bed flat (no parking) being offered for sale is around £194,000. Not only is this not a sensible market price for a 1 bed flat in the area but if housing associations are to be offering these homes to 'the most needy' (which I understand is now the criteria, rather than local 'working' people with local connections), then this seems pretty outrageous.

Maybe someone can explain how this is going to work?

The prices you are looking at are for the non-social housing apartments; the affordable homes will not be available until a Registered Social Landlord takes them on.

[wabbit]

The prices you are looking at are for the non-social housing apartments; the affordable homes will not be available until a Registered Social Landlord takes them on.

Yes, I realised these weren't the cost of the social housing homes (the only information to be gleaned is from Parkway's website and is for private sales) - but I am questioning why 1 bed flats are being offered at almost £200,000 (when a more realistic market figure surely is closer to £130,000) and whether Social Landlords (is this Housing Associations?) are buying at that inflated price? All sounds a bit odd to me.

On my other point, does anyone know who exactly would qualify for any of these luxury residences as social housing?

[Andy Capp]

SLI got away with not providing social housing. I think they 'got away' with just giving the council money instead.

[wabbit]

SLI got away with not providing social housing. I think they 'got away' with just giving the council money instead.

I thought 20% of the total 'homes' were to be affordable - has that changed?

[James_Trinder]

I thought 20% of the total 'homes' were to be affordable - has that changed?

It has changed. SLI have given the council a sum of money in order to avoid this requirement.

[wabbit]

It has changed. SLI have given the council a sum of money in order to avoid this requirement.

Oh thank you - but that does sound a bit like a proverbial 'bung', doesn't it?

So, no nice shiny apartments for Newbury's struggling then... just another ker-ching in the coffers of WBC!

Still not sure how Parkway arrived at a market value of almost £200,000 for a 1 bed flat though. If these flats go the way of many 'aspirational' town centre developments like those in Reading, the flats will soon become seedy and unloved. Quite who would want to live in a town centre now (see other thread about drinking etc), is a mystery to me... especially without parking.

Maybe Dave's proposed mending of 'broken Britain' will bring about a 'sea change' (yes, another ghastly cliche) and towns (like Newbury) might once again become places people aspire to live in. Until then, you'd need to have more money than sense (in my opinion) to buy here.

[NewburyP]

There are 184 apartments in Newbury with 47 of those allocated to affordable homes. Once a Registered Social Landlord takes over those 47 apartments they will be marketed - I am not sure how a housing association like Sovereign operates but they will decide who will be the eventual occupiers.

[Bloggo]

Oh thank you - but that does sound a bit like a proverbial 'bung', doesn't it?

So, no nice shiny apartments for Newbury's struggling then... just another ker-ching in the coffers of WBC!

Still not sure how Parkway arrived at a market value of almost £200,000 for a 1 bed flat though. If these flats go the way of many 'aspirational' town centre developments like those in Reading, the flats will soon become seedy and unloved. Quite who would want to live in a town centre now (see other thread about drinking etc), is a mystery to me... especially without parking.

Maybe Dave's proposed mending of 'broken Britain' will bring about a 'sea change' (yes, another ghastly cliche) and towns (like Newbury) might once again become places people aspire to live in. Until then, you'd need to have more money than sense (in my opinion) to buy here.

Interesting view and considering how long the flats have been marketed for there is only one flat sold (not one reserved even) you may be right.

[Darren]

But then who's going to buy something in the middle of a building site where the work seems to be over-running.

Hardly makes for a Des-Res

[Bloggo]

There are 184 apartments in Newbury with 47 of those allocated to affordable homes. Once a Registered Social Landlord takes over those 47 apartments they will be marketed - I am not sure how a housing association like Sovereign operates but they will decide who will be the eventual occupiers.

Hold on, we have been hearing from earlier posters that the Council took money to agree that there would be no affordable housing in the Parkway build. Which is true?
Does anyone know the facts about this???

[Andy Capp]

Hold on, we have been hearing from earlier posters that the Council took money to agree that there would be no affordable housing in the Parkway build. Which is true?
Does anyone know the facts about this???

Perhaps it is a bit of both. Money for a reduced quota?

[Bloggo]

Perhaps it is a bit of both. Money for a reduced quota?

Maybe but does anyone know for certainty?

[sdm36]

Yeh taking the money and leaving a trail of confusion sounds like the council, they probably did that.

[Cognosco]

Yeh taking the money and leaving a trail of confusion sounds like the council, they probably did that.

The Council would only do as instructed by SLI. Standard practice for our beloved Council. Developers rule!

[Strafin]

http://www.newburytoday.co.uk/News/Article...?articleID=6716

[Andy Capp]

"The committee agreed to cut the developer’s contributions ... from £3.5 million to £1.9 ... (and) hand over £900,000 to (SLI) to keep the 37 affordable homes."

In other words: we let them off paying £1.6 million in S106 money and also paid them nearly £1 million the council had under mattriss to keep the previously agreed 37 affordable homes (which in itself was lowered from an earlier agreed 56).

[Guest_xjay1337_*]

Lol that is not affordable whatsoever. Affordable would mean that I could have my own house rather than have to rent properties, but hey.

Young people don't need houses since we all sleep in VW Camper Vans in between excursions to the beach to surf and play hide the rainbow.

£200k for a 1 bedroom flat? I'd expect that to be a massive bachelor pad, with free water-bed and at least off road parking. The flat I currently live in is about £130,000 and has residential parking, 2 bedrooms and a dishwasher.

[Bloggo]

I see that there is still only one appartment sold and now one other reserved. Looks like the prices have gone up too. Not sure that these appartments will be value for money when you can buy a substantial detached property for the same price as the more expensive appartments.

[Richard Garvie]

Does anyone know how many affordable housing units we got for our £1m??? I've been told whilst in town today that there is only eight, surely that is just a wild rumour and couldn't possibly be true?