A property development near Pudsey is being supported by a £2.36 million Government loan to deliver 12 bespoke family homes.
Government housing accelerator Homes England is supporting Advent Developments with a Home Building Fund loan for the South Side Ridge development on a three-acre green field site off Pudsey Road.
Work has already begun on the scheme, which will be built over a two-year period, with the first homes expected to be completed by summer 2019. The full development due for completion by 2020.
Like many small and medium sized developers, Advent has experienced challenges in securing development finance from traditional lenders.
Advent Developments Managing Director Tim Reeve said:
“Crucial to our business model is securing development finance which continues to be particularly challenging for SMEs. Homes England has been incredibly supportive and very understanding of our business model and ambition.”
Craig Johns, Senior Specialist for Homes England, said:
“We are committed to supporting small developers and new entrants in order to create a more resilient market. Advent Developments is a great example of an ambitious developer who is striving to deliver well designed high quality homes that will meet the needs of the community.”
