A major housing development for shared ownership and homes to rent for older persons by Three Rivers was launched at former colliery site Westoe Crown Village in South Shields.

Residents and officials gave the scheme the thumbs up at the opening ceremony performed by One NorthEast’s Deputy Chair and Chair of its Regeneration Committee, Christine Smith.

The colliery was closed down in 1993 and land reclamation works started after it was transferred to English Partnerships. Following a successful partnership bid led by then known, Wimpey Homes, building works to create an urban village of over 600 homes began in 2002.

Three Rivers obtained funding of nearly £1m grant from the government via the Housing Corporation and a further £1.3m investment through private finance to develop the affordable homes on the site.

Chief Executive of Three Rivers, Martin Knowles, said: “We are delighted to be part of such a prestigious project. It is important that people have a real choice in staying in their own communities and this scheme enables us to help create this choice in partnership with others.”

Getting a foot on the property ladder has been particularly difficult for people in South Shields as property prices have hit an all time high in recent years. The new shared ownership scheme offers a unique opportunity for many first time buyers to buy a home in a popular development such as this affordably.

With shared ownership, buyers can purchase a percentage share of the property and pay rent on the remaining share. They can staircase up their ownership of the property and own it outright as and when they can afford to do so.

Christine Smith of One NorthEast said at the launch: “This development is truly a pioneer for urban development. It is only proper that the land from the former colliery has gone to good use and will play its part in a bold and distinctive future.”

The first two phases of the affordable housing development have now been completed and a further 71 properties will be developed in the next phases. These will also include housing for rent available to older persons. As one of the first developments in the region to adopt Home Zone to promote the interests of pedestrians and cyclists, it will provide a safe environment for all.

Cllr Paul Waggott, leader of South Tyneside Metropolitan Borough Council, said: “This is a site of strategic importance and I am delighted that this scheme has come to fruition. The development is changing the face of the area as we know it. Schemes like this help us to improve the range and quality of housing in the Borough so that the area has something for everyone.”

Councillor Iain Malcolm, the Council’s deputy leader and Horsley Hill ward member, added: “This development is an excellent example of partnership working between the developer, the Council and the local community which has led to a scheme that we can all be proud of. Locally, this is a new beginning for the area and I am sure that residents will appreciate that this is a beautiful part of the town. We wish them all well.”