Orbit has begun laying the foundations for its first development of private rent homes.
Due for completion in summer 2017, Fordham House will offer 82 private rent apartments in the heart of Stratford-upon-Avon.
To mark the start of construction of its first private rented homes, Orbit joined its development partners Stratford Town Trust, Deeley Construction and ABD Development on site at Fordham House to celebrate the laying of the first brick.
As the UK’s second largest developing housing association, Orbit first announced its plans to venture into the private rented sector (PRS) at the end of 2014 after securing the site in Stratford and another in Norwich.
Already offering homes for affordable rent, shared ownership and market sale, Orbit’s development of private rented homes marks an expansion in its offer to customers by providing a more flexible housing journey.
Adam Cooper, PRS director at Orbit, said: “It was incredibly exciting to see the foundations of Orbit’s first private rented homes being laid down.
“Our new PRS product will complement Orbit’s existing housing solutions, and help combat the UK’s housing shortage by developing a greater range of tenures to meet need and aspiration, and provide more quality homes to those currently unable to buy their own home."
Work is also due to begin later this month at St Anne’s Quarter in Norwich, Orbit’s second site lined up to offer private rented homes. A flagship development of over 400 new homes, it will be Orbit’s first to offer all four tenures of both affordable and private rent, shared ownership and market sale, as well as commercial space.
Both the Fordham House and St Anne’s Quarter developments will contribute to achieving Orbit’s mission of building 12,000 new homes by 2020.