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Chartway Partnerships Group and Moat are pleased to announce that terms have been agreed for the development of a new 300 mixed tenure residential housing project at Frognal Lane, Teynham, Kent.
The new development will provide affordable rent, shared ownership and private sale homes comprising a mix of 1-, 2-, 3- and 4-bedroom homes. Subject to the planning process which is due to commence early Summer 2023, start on site is anticipated Spring 2024.
50 homes will be delivered as Affordable Rent and the remaining 50 houses will be delivered for shared ownership, helping families to get a foot on the housing ladder with an initial equity purchase from as little as 10% of the open market value.
New employment space, a sports pitch, a pavilion and open space with allotments are also being brought forward to the new development at Frognal Lane, aligning with the Chartway and Moat vision to deliver a mixed use and highly sustainable community development.
Sarah Butler, Development Director, Moat: “Moat and Chartway share similar values and approach to providing new community-led housing developments. We are looking forward to working with Chartway to bring forward much needed affordable homes to this beautiful area of Kent. It will be a fantastic community to live in and we are excited to be a part of it.”
Steven Cresswell, Group CEO, Chartway Partnerships Group: “Chartway collaborates with Housing Associations to deliver new homes and placemaking. I’m delighted we are partnering with Moat to bring forward our first housing scheme in partnership and look forward to working with the team in the future and develop our relationship.
“The vision for the Frognal Lane development is to provide new energy efficient homes for everyone and support the economic, social and environmental needs of the local area and smaller surrounding communities.”