Cotton Lane Development - COMING IN 2024.
Founded in 1847 we provide accommodation, support and education to individuals across Derby and Derbyshire.
Our new aspirational housing development Foundry Point will see us build 60 genuinely affordable homes for young people making the transition to independent living.
Our aspirational housing model:
- Designed specifically to meet the needs of young people as they start out, with the intention that they will then move into the mainstream housing market within 1-2 years, once they have gained a successful tenancy history and saved a deposit.
- Suitable for both young people leaving home for the first time, as well as those who have gained employment and are moving on from supported accommodation.
- Rent levels set so that they are affordable for young people entering employment on low salaries.
The need for increased delivery of homes in the UK is well documented. It is also widely recognised that young adults, even many who are in employment, are finding it increasingly difficult to access suitable housing within the private rental market. This is particularly true of those who have little or no previous history of holding a tenancy, those in low paid employment, and those leaving the family home for the first time.
Our proposed Cotton Lane development will provide 60 flats to young people in our City who are in;
- Training and/or education
- Who need or wish to live independently but cannot afford the rents associated with the private rental sector.
This is an aspirational project aimed at assisting young people to gain a footing on the housing ladder as they go into the workplace, with the aim of making this transition as smooth as possible for them in what can be a stressful time.
The flats are designed to be affordable to run and easy to maintain, they will be fitted out to a high standard and fully furnished. Housing Management staffing ratios will be much higher than traditional social housing, allowing any young person to easily access their Housing Officer via our main Campus, London Road if they are in need of advice or assistance.
The location of the scheme has been influenced by its proximity to some of Derby’s largest employers – those who provide significant apprenticeships, our Campuses on London Road and Nightingale Road, and the proximity to good transport links.