All of the 58 two-bedroom apartments in the newly completed Mansion House building are ready for people to move into now, with 28 available through the government-backed Shared Ownership scheme.
Shared Ownership enables aspiring home owners to buy a portion of a property while paying a subsidised rent on the remaining share.
The flats form part of the overall Port Loop neighbourhood in Edgbaston which will see a total of more than 1,000 new homes, a community hub, leisure centre, commercial units and public green space created.
The apartments have been built by developer Urban Splash in partnership with Places for People after the West Midlands Combined Authority (WMCA) agreed a £13m investment to unlock the land for regeneration.
Inside one of the new apartments at Mansion House. PIC: West Midlands Combined Authority
West Midlands Mayor Richard Parker said he has used WMCA funding for schemes that will provide more than 1,000 affordable houses – including more than 500 for social rent – since his election last year.
He said: “Too many families are waiting too long for a safe, affordable place to call home because our region just doesn’t have enough houses that people can actually afford.
“Many are left with no choice but to live in private rentals that are often poorly regulated. For them, the prospect of owning their own home is nothing but a distant dream.
“They deserve better, and that’s why I have committed to building thousands of new social and affordable homes. Already we have funded over 500 social homes in the region – more than we’ve ever grant funded before.
“Port Loop shows how we can work with private partners like Urban Splash and Places for People to build high-quality, affordable homes that also create vibrant new communities that people feel connected to and proud of.”
Guy Ackernley, managing director (development and residential) at Urban Splash, said: “Our vision for Port Loop has always been about inclusivity – creating a neighbourhood where people from all walks of life can find a home that suits them.
“Whether through outright sale, rental, or shared ownership, we want to offer customers real choice. It’s brilliant to now be able to offer even more affordable options in this growing community.”