Lovell will build 30 affordable homes for Acis and 70 for the open market. Both Acis and Lovell will be equal investment partners in the 70 semi-detached and detached homes set to be sold by Lovell on the open market.
The development will be built on Chestnut Drive, an established residential area about a mile from Louth’s centre.
Lovell regional managing director Robert Adams said: “We’re delighted to have acquired this superb site and to have finalised this major partnership deal with Acis. The development will create much-needed new homes at a location within walking distance of the town centre with all its amenities. Built to the highest standards, properties will look attractively traditional while offering contemporary interiors created to work for modern lifestyles. We’re extremely pleased to be helping increase options available to local homebuyers as well as boosting the supply of affordable homes locally.”
Lovell began construction at the turn of the year, with the first homes set to be released for sale in June 2019. The overall development is scheduled for completion in 2022.