The £100k homes project was devised by Cambridgeshire and Peterborough Combined Authority and will involve the building of homes with one bedroom that can be bought outright by first-time buyers for £100,000. It is hoped that it will help more people to buy their dream property and the first site within Cambridge that will be used for the project is at Histon Road.
Laragh Homes, who own the site in question, will build three houses there that will be made available for outright purchase at a discounted price of £100,000. Brochure printing supplied by local outlets can help property developers to show off their newest homes.
Speaking to the Cambridge Independent, the Mayor and Combined Authority leader James Palmer commented:
“I always said we could build £100k homes anywhere in Cambridgeshire and Peterborough, even right in the centre of Cambridge where property is at its most expensive.”
He went on to add that it was essential to come up with projects like this to tackle the crisis in the supply of available and affordable homes for people to buy.
Work on the homes is expected to be finished by March next year.