The Liverpool-based housing group is to start work this year building 131 homes on Knowsley Lane after being granted planning permission from the local council.
The £23m scheme will see Torus Developments regenerate a disused part-brownfield site at the front of Knowsley Lane and Astley Road in Huyton, into a collection of two-, three- and four-bedroom homes designed by architecture studio Bowker Sadler.
The homes are to be made available on a rent-to-buy basis, which Torus says is a “particularly attractive proposition for people who want to get onto the property ladder without over burdening themselves financially.”
The homes will be available at a reduced rent for the first five years, providing the opportunity to save for a deposit. After five years, residents will be offered the option of buying the home outright, or through shared ownership.
The development is Torus’ second investment in Knowsley in the past two years, after it completed the £25m Maples scheme, an independent living complex for over-55s, comprising supported living bungalows and affordable family homes in Kirkby.
The Knowsley Lane scheme will be developed in partnership with Knowsley Council and Torus’ charitable arm Torus Foundation, which will create employment and training opportunities for local people during the construction process.
Construction is due to start before the end of the year and complete in autumn 2022.
Chris Bowen, managing director of Torus Developments, said: “This scheme marks our commitment to bolstering the affordable housing and job market in the area and we will be working with partners to recruit local talent to build the type of houses needed in the area.”