Victorian properties to revert to family houses
Housing association Riverside Group is to spend £4.6m converting empty properties in Kensington and Wavertree, Liverpool, from flats back into family homes.
The organisation, one of the UK's biggest registered social landlords with more than 50,000 units, said a "significant number" of properties in and around Botanic Road alongside Wavertree Park would be "restored to their former glory".
James Hill, director of property strategy at Riverside, said: "The aim of the investment programme is not only to transform lives by bringing affordable homes back into use but also to revitalise neighbourhoods by breathing new life into streets blighted by boarded-up properties.
"Some of these houses have been empty for up to 10 years because of poor condition, lack of demand or funding issues but now they are going to contribute towards sustainable, mixed tenure neighbourhoods. The programme will also generate local employment."
The majority of the properties will be available for social rent. Some will be sold on the open market and others will be sold via Own Place, an initiative which offers eligible buyers a 25% discount on the market value of an improved property on the condition that they live there for at least five years and don't rent it out.
Hill said Riverside has recently sold over 100 properties in run down areas enabling a transformation of the tenure balance in previous rented streets.