Pictured above: In Discussion...Richard Cornes, partnerships director, William Davis Ltd (R) and Peter McCormack, chief executive, Derwent Living (L) discuss the transformation of the site at East Street and the merits of the Government's New Build Homebuy initative.

Housing provider Derwent Living is working with contractor and developer, William Davis Ltd, to offer a range of much needed affordable homes in Grantham. 

Loughborough based William Davis is building 53 homes on a brownfield site on Castlegate and East Street, Grantham and will comprise a mix of one and two bedroom apartments and two and three bedroom houses.  

Forming part of the Government's New Build Homebuy initiative, 35 of the homes will be available for affordable rent and 18 available on a part-buy, part-rent basis becoming available in three phases between February and July 2010.  

Designed to achieve a *Code for Sustainable Homes level 3 rating, the new homes incorporate photovoltaic roof tiles, which convert UV rays from the sun to energy and heat exchangers to recycle warm air from kitchens and bathrooms into other living areas. These additional elements ensure each home is highly energy efficient and more cost effective to run. 

In addition, the site has been planned with its prospective residents in mind and developed in consultation with the Homes and Communities Agency's local sustainable design forum, as well as Derwent Living's own customer design panel. As a result of the consultations, changes were made to the layout and a residents' garden area has been added.

Peter McCormack, chief executive of Derwent Living, made a recent visit to the site to view progress on the project, accompanied by Richard Cornes, partnerships director at William Davis. 

Richard said: "Having purchased what was essentially a disused site over a year ago it is really pleasing to see its transformation into much needed housing and it is particularly good to be working with Derwent Living on this scheme in the heart of Grantham."

Derwent Living, a provider of affordable housing across the Midlands, saw the need for affordable housing in Grantham.  Paul Casey development director at Derwent Living said: "It is important to provide affordable housing for areas such as Grantham; both for people in the greatest need and for first time buyers who need options to keep them in the area.

"We all know that there has been a downturn in the housing market - the difficulties in the mortgage market are stretching accessibility. First-time buyers are struggling to meet lender demands for higher deposits - so part-buy part-rent is a real option in the current climate.

"New Build Homebuy is an excellent option for those looking to get onto the property ladder. The customer buys a share of the property and pays a rent on the remaining share they do not own. Gradually you may buy further shares and eventually own your home outright. This makes it a very real option for those looking for their first home.