Andium Homes will be building a total of 405 new homes on the sites of the Mayfair, Apollo and Revere hotels.
The affordable housing provider has signed a development agreement with Dandara, which had previously secured options to purchase the hotels.
Late last year, the development company submitted Planning Applications for each site.
This included an application to demolish 14-28 Kensington Place, which includes the 72-room Stafford and three-star 56-room Revere hotels, as well as Doran's Bistro and Candlelight restaurant, and build 70 one-bedroom, and 36 two-bedroom, flats with ground-floor parking and landscaping.
Pictured: Development at the Ann Street Brewery and Mayfair sites will be subject to a Planning Inquiry.
Proposals were also brought forward to demolish the Mayfair Hotel to make way for 137 one-bedroom and 67 two-bedroom flats.
The latter, and the nearby Ann Street Brewery site, where Andium Homes hopes to build 189 one-bedroom and 82 two-bedroom flats, will be subject to a Planning Inquiry following a decision from the Environment Minister.
“It is hoped that the Inquiry will bring forward support for the many benefits each site will bring,” Andium said arguing the developments would provide “a great regeneration opportunity for this part of town”.
“These are extremely important and exciting projects for those in need of a quality home and a welcome boost for the construction industry as we emerge from the covid-19 pandemic,” Ian Gallichan, Chief Executive of Andium Homes said.
Andium’s decision to acquire the sites means the new homes will be made available through the ‘Affordable Housing Gateway’ for islanders who are in the greatest housing need and not available for buy to let investors.
Subject to the necessary approvals, the homes should be completed in 2025 with Andium Homes funding the projects from the private loan facility secured by the company last year.
Pictured: Deputy Russell Labey said he very much welcomed the “significant development”.
The Minister for Housing and Communities, Deputy Russell Labey, said he very much welcomed the “significant development”. “First and foremost, it will deliver a considerable number of high-quality affordable homes for islanders and keeps Andium on track for delivering on its ambitious target of 3,000 new affordable homes by 2030,” he added.
“Increasing the supply of homes, particularly affordable homes, is key to helping us create a more sustainable housing market for the people of Jersey.”
Deputy Lyndsey Ash, the Assistant Minister for Treasury and Resources, said “This project has the potential to create hundreds of much-needed family homes in town, and help us meet our commitment to reducing income inequality and improving the standard of living.”
Martin Clancy, Managing Director of Dandara, added: “We are extremely pleased and very proud to be partnering with Andium in providing the Island with this much needed affordable housing.”
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