Maple and May invests £2.5m in new affordable homes in Dromara
A BELFAST-based property company will be behind 14 new homes in Dromara in a £2.5 million investment.
Maple and May, which will also manage the private rental of 27 new properties at the former Park Avenue Hotel site in eat Belfast, has outlined details of the project off the Hillsborough Road, just outside the village centre.
The scheme will feature a mix of three- and four-bed detached and semi-detached houses, designed by McAdam Stewart Architects.
It will be delivered in three phases, over a four-year period with phase one, which includes the first set of four bedroom detached properties, expected to be completed over spring 2023.
Maple and May manager Deirdre Steele said: “The demand for affordable properties is continuing to grow. This new development will offer opportunities for people to purchase their own quality home.
“Over the last 12 months our rental portfolio has also increased, and we plan to explore more opportunities to further expand our offering throughout Northern Ireland.”
Maple and May will work in partnership with JA Smith Developments on the project.
Trevor Smith from JA Smith said: “This partnership is an exciting project for the Dromara locality, combining much needed quality housing within an area that offers new residents an already established community.
“Working with McAdam Stewart Architects, these new builds will provide not only affordable housing but a dynamic fresh design that will fit in with its surroundings.”
Among Maple and May’s other properties is Ballyvarnet Lane in Bangor, which features three-bedroom semi detached and townhouse properties which retailed between £150,000 and £170,000.
According to data from property search site PropertyPal, semi-detached houses within the Dromara area sold for an average of £142,665 last year. Meanwhile detached properties had an average cost of £220,802.
Maple and May will also manage 27 of the two-bedroom apartments due to be built on the former Park Avenue Hotel site.
That development is set to be completed in 2024.
Maple and May will work with Choice Housing on the project, offering the units as private rental properties.
That development will be a mixed tenure residential project made up of 90 units in total, with 63 of these for social housing and 27 as private rental units.