Completion of Affordable Homes at Montgomery House, Ely are now available for local residents
Thu 30 Aug 2018
East Cambs CLT has completed its first community-led development at King’s Row on Barton Road in Ely. Built in partnership with local developer Palace Green Homes, this highly desirable location is a first for East Cambs CLT and will provide two 1 bedroom flats at genuinely affordable rates. One flat will be available for below market value rent and the other as a shared ownership property.
Expressions of interest in the flats have been collected by the CLT with assistance from East Cambs Community Housing. A comprehensive and bespoke Allocations Policy will be adhered to, to ensure that the properties are allocated to people with strong local connections to Ely who need affordable housing. Once occupied the flats will be managed by East Cambs Community Housing.
The affordable properties themselves are community owned assets that are protected by a legal asset lock and protected from the right to buy. This means that genuinely affordable housing will be available in perpetuity. Over time, the homes will generate surpluses that can be re-invested by the CLT into new projects that generate benefits for the local community.
Montgomery House, Ely - Copyright Richard Fraser Photography
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