Poppy Place on Crosby Road North will be a mix of 18 two-bedroom apartments and two one-bedroom apartments, all available for shared ownership.
Shared ownership gives first time buyers the opportunity to buy a share in the property and pay rent on the remaining share, meaning purchasers only require a small deposit. The owner can then increase their share up to 100% during their time living in the property.
Designed by John McCall Architects, the £2.5 million development takes inspiration from the art deco style of the former British Legion building on the same road.
Poppy Place will be built by M&Y Maintenance and Construction and managed by Redwing Living. The two companies, both part of The Regenda Group, are currently working together on several schemes across the north west, including the Bluebrook development in Hambleton, which has been shortlisted for a number of industry awards.
Fiona Coventry, Managing Director of Redwing Living, said: “We are really looking forward to bringing high quality, affordable homes to Waterloo, and helping first time buyers get on the property ladder.
“We recently took ownership of the site, including the former British Legion building which has been refurbished, and we have moved quickly to get this development underway.”
Gill Kelly, Managing Director of M&Y Maintenance and Construction said: “As an organisation, we are delighted to continue growing the construction arm of our business.
“In just over a year, we have built homes for outright sale, refurbished a former court house into apartments for social rent and we’re building three-storey houses for social rent in Rochdale. We’re looking forward to building this unique apartment building.”
Poppy Place has received £800,000 funding from Homes England and is expected to be completed in August 2019.