The first phase of a new housing development will officially be opened by the Mayor of Bedford, Frank Branston, at the Britannia Riverside site in the centre of Bedford . Bedford Borough Council and Genesis Housing Group have worked in a successful partnership to promote and develop affordable housing on the site.

The first phase of the scheme includes 34 affordable homes - almost all of which are successfully let or sold for shared ownership. The total scheme, when completed, will provide 68 new affordable homes for rent and shared ownership.

Britannia Riverside, which has transformed a former ironworks site, is now a prime residential location in the heart of Bedford, on the banks of the Great Ouse. Occupying the eastern side of the site, the completed homes are the first half of a development - which will be complemented by a matching development to the west. The second part of the development will start later this year.

Councillor Chris Black, Housing and Planning Portfolio Holder for Bedford Borough Council, said 'We are pleased to be working in partnership with Genesis Housing Group on this scheme and on others in Bedford. A major objective of the Council is to enable the delivery of affordable homes. This scheme will contribute to us reaching our target of 200 new affordable homes per year.'

Steve Coleman, Director of Development at Genesis Housing Group said 'It is a great opportunity to be able to develop this historic site and create more affordable homes in a prime residential location at the heart of Bedford. The new homes will make a substantial contribution to tackling the housing shortage and will have a positive economic impact on the area.'

For more information on other shared ownership schemes in Bedford and surrounding areas, contact Key Homes East at www.keyhomes-east.org.uk or call 0845 456 6757.

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Notes for editors:

The scheme will be opened at 3:00pm today at Britannia Riverside, Palgrave Road, Bedford.

The first phase of this scheme will deliver 130 new homes made up of 1, 2 and 3 bedroom apartments, of which 34 will be affordable homes.

Bedford Borough Council has an affordable Homes target of 200 new homes a year, and enables Housing Associations to develop new affordable homes through providing capital grants and coordinating grants from the Housing Corporation locally.

As part of the overall scheme WN Developments, the developer, will construct a new pedestrian bridge over the river as part of the planning permission requirements. The new bridge will make it easier for residents to walk and cycle into the town centre and to the train station.

Genesis Housing Group provides homes and services to tens of thousands of people across London and the south east. The Group consists of Pathmeads, Springboard and PCHA housing associations. It also has a charitable foundation, Genesis Community, and is one of the largest and most successful housing groups in the UK. Genesis Housing Group owns and/or manages more than 40,000 homes across London and the south east. Its overiding aim is to put customers first and provide excellent service to all.

The total cost of the scheme (for both phases - east and west) is £7.8 million. The Housing Corporation's, social housing grant of £630,000 in relation to the first phase - Britannia East - is expected to be approved in the near future.

The shared ownership units are available to people living or working in the Borough of Bedford. Sales are based on 25% initial share of a full market value of £172,200, and payment of a monthly rental for the remainder of the equity.

All the rented homes on the existing phase are managed by Springboard Housing Association, part of the Genesis Homes Group.

The scheme consists of 13 shared ownership flats - 3 x 1 bed flats, 10 x 2 bed flats, and 21 rented flats - 3 x 1 bed flats, 18 x 2 bed flats.

For further information please contact: Diana Evans, press officer at Genesis Housing Group, on 020 8150 4178, or email: diana.evans@ghg.org.uk, or contact Keiron Fletcher, Corporate Communications, Bedford Borough Council, on 01234 221622 / 2212623, or email: proffice@bedford.gov.uk.