Thrive Homes has today completed the purchase of a large site for residential development at 16-18 St Albans Road in Watford, securing more new-build homes for the organisation’s ever-growing development programme.
The site is currently occupied by a car dealership. The showroom and car park, on each side of St John’s Road, will be replaced by a total of 90 one and two-bedroom apartments across an eight-story and 10-storey block.
The current planning permission requires 30 of the proposed homes to be provided as affordable housing but Thrive intends to provide double this number as affordable (subject to funding), with a further 30 homes being provided as shared ownership properties for households who would otherwise be priced out of the local housing market.
The completed development will include landscaping, gardens, communal outdoor areas, paved courtyards, balconies and secure cycle storage.
A contractor is likely to be appointed on what will be Thrive’s largest development to date in early 2019, with the first completed units being ready for people to move into in late 2020.
Jack Burnham, Development Director at Thrive Homes, said: “We are delighted to have been able to acquire this site, which will be our largest development to date.
“These apartments will be in a prime position, with excellent public transport links and access to Watford town centre. Our intention is to provide double the number of affordable homes that would have been built on the site by increasing the number of shared ownership properties available to people who would otherwise be priced out of the local housing market.
“We plan to start construction on the site in 2019, with the first homes being ready in 2020”.
Thrive, which celebrates its 10th anniversary this year, has an active development programme of over 500 homes across a range of developments in Hertfordshire, Bedfordshire and Buckinghamshire. The organisation’s forward strategy aims to double its housing stock (currently 4,650 homes) over the next 10 years.