Beyond Housing has exchanged contracts with Story Homes to purchase 22 new properties at Thirsk Road, Kirklevington.
The £2.2m scheme will deliver a mix of affordable rent and shared ownership accommodation in this popular and much sought-after location on the outskirts of Yarm.
13 two-bedroom and 7 three-bedroom homes will be made available for affordable rent, with the remaining two and three-bedroom properties, one of each, being marketed for shared ownership.
An official start on site date has not yet been agreed, due to the restrictions currently imposed by the Covid-19 pandemic, but contract terms allow a period of six months for this to be confirmed.
With Covid-19 restrictions permitting, handover of the first new properties is provisionally expected to begin in August 2020 with final completion by May 2021.
Clare Harrigan, Beyond Housing Head of Development and Regeneration, said: “We are delighted that, despite the limitations imposed upon us by the Covid-19 pandemic, we have reached a significant stage in the exciting acquisition of more high quality new homes for Beyond Housing customers. This scheme sees us taking another step closer to our ambitious objective of delivering 2,000 new home by 2025”.