A £10.5million investment that will provide 78 high quality affordable homes for the over 55s on Swansea’s prestigious SA1 development is set to get underway next month.

It follows the exchange of contracts this week between the Welsh Assembly Government and Swansea Housing Association on a one acre site adjacent to the De Vere hotel development.

It will be Swansea Housing Association’s largest privately funded project to date and is geared towards the ‘empty nester’ sector – people, aged 55 and over, who are looking to downsize, trade in the family home and buy a two bedroom apartment.

Director of Development Geoff Pettifor acknowledged the high demand for this type of property in the area saying: “There is tremendous interest in the development and although we haven’t even started advertising or marketing yet, more than 200 people have already registered an interest.”

“SA1 is a highly prestigious development and to date virtually all residential developments have been sold off plan and we are confident this project will be equally successful.”

Andrew Davies, Minister for Enterprise Innovation and Networks, said the inclusion of affordable homes on SA1 was an important part of the mix necessary to create a sustainable, integrated community.

“SA1 is a flagship development for Swansea and a model regeneration project because it is inclusive – it is providing opportunities for small and corporate businesses, catering for a range of housing needs and allocating land for community uses while also maintaining close links with existing communities.”

Swansea Housing Association’s SA1 project will be the first of this kind that it has undertaken and will include a range of purchase options to suit individual circumstances.

The five and three storey development of 78 two bedroom apartments with parking will be linked by a courtyard.

The development has been designed by Mathias Holder Architects and prices are anticipated to be in the £140,000 to £180,000 range. The construction contract has been awarded to Jistcourt (South Wales) Ltd.

For further information, please contact Geoff Pettifor, 01792 479220, geoff.pettifor@coastalhousing.co.uk