Southwest property developer Devonshire Homes has got the funding from the Homes & Communities Agency (HCA) to complete the first phase of the redevelopment of the old Belmont Hospital to provide 30 new homes by the end of 2014.
A former Victorian workhouse, the Belmont Hospital was used after 1945 for specialist elderly care but has stood empty for a number of years. Devonshire Homes acquired the site in 2008 but the development stalled due to changes in the economic climate that challenged the viability of the project.
The £570m Get Britain Building programme, announced as part of the government’s housing strategy in November 2011, is supporting housebuilders by providing access to development finance, unlocking more than 15,000 new homes across the country by December 2014.
Devonshire Homes land and planning director Steve Russell said: “The commercial viability of the Belmont project has caused delays to the development and we have had to make changes to our original plans to reflect the current housing market. However, with the funding in place, building work will now start in August to deliver the first phase of 12 affordable two and three bedroom houses alongside 18 homes for the open market.
“Prioritising this development over others in the region clearly demonstrates the government appreciates its importance in contributing to the wider regeneration of Tiverton.”
In total, the new residential development is expected to provide more than 70 new homes. The HCA has also supported the delivery of 23 new homes at the former Tiverton Hospital site in the town centre.