Work has started on 32 shared-ownership flats in a waterside development in Reading.
The £5.7m flats for Thames Valley Housing Association are part of the Kenavon Drive development, which is in the town centre next to the Kennet and Avon Canal.

The first residents will move in

about autumn 2005.The flats are part of a larger development by Bewley Homes and architect Broadway Malyan.

Meanwhile, Thames Valley has taken out a £25m loan with Newcastle Building Society.

It will cover general development needs, including rent and shared ownership developments for the association, which develops about 500 units a year.

The loan, the association’s first with Newcastle, takes its total loans portfolio to about £130m. Thames Valley plans to take out further loans this year.

Finance manager Martin Lister said: “We are always on the look-out for new facilities and are talking to other lenders.”

Source

Housing Today