An important step to deliver more than 70 high-quality, energy efficient homes for Norwich residents has been given the green light with funding agreed for the next phase of building at Three Score.
Norwich Regeneration Company, which is wholly owned by Norwich City Council, have secured further investment to build 24 homes at Three Score in Bowthorpe that will be sold on the open market, following agreement by Norwich city councillors at the meeting of full council on Wednesday 21 July.
There will also be 52 new homes built as council owned social housing.
Mike Stonard, chair of Norwich Regeneration Company said:
“The decision by the city council to invest in further high-quality housing development for private sale and council owned properties by the company comes off the back of recent sales successes of the properties built at Rayne Park and Trinity Gardens, with 75 properties being sold since Autumn last year.
“Because of these strong sales, not only is the city council able to invest further to build new homes, but the company is now in a position to make significant repayments in relation to the loans made to it by the council. More than £5m has already been paid back to the council earlier this year and a further £4m estimated to be reimbursed by the end of this current financial year.
“The way the company has continued to drive forward on this development and return such strong sales is quite incredible considering the serious impact that the pandemic has had on the construction sector.”
The next stage of the development at Bowthorpe, called Threescore Phase 3, will see a total of 76 new homes being built and be a mixture of 1 bed flats and 2, 3 and 4 bed houses.
These will be built near the growing community already at Three Score, west of Rayne Park and Saxoncote Avenue, and will deliver 44% affordable housing, which is above planning policy requirement (33%).
A public consultation on the latest phase completed earlier this month and this will inform the planning application that will be submitted to the Norwich City Council planning applications committee later this summer.
In keeping with the council’s drive to provide eco-efficient homes, all the properties will be built along a fabric first approach along passivhaus principles – as seen at Rayne Park and the council’s award-winning Goldsmith Street development which won the prestigious Stirling Prize in 2019