Work has begun to replace old industrial units with modern new housing.
The £5.5m Silverbirch development – to be constructed by Galliford Try Partnerships for Riverside Housing Group – will see 36 two and three-bedroom homes and four two-bedroomed bungalows replace disused units at Camperdown Industrial Estate, near Killingworth.
Demolition of the old buildings and site preparations have been completed, paving the way for construction of the new homes.
The development is expected to be completed by May 2018.
The new homes will be made available as shared ownership properties, allowing customers to buy a stake of between 25 per cent and 75 cent in the property, whilst paying rent on the remainder.
The scheme, made possible through a £1m grant from the Homes and Communities Agency, has been backed by North Tyneside Council.
Riverside’s Julie Gray said: “This is a particularly exciting development for us, as it will give home buyers a helping hand onto the property ladder. As a result, we expect Silverbirch to be very popular.
“It is the latest selection of homes we have for sale in the North East.”
Sara Holmes, from Galliford Try Partnerships North East, added: “We are delighted to have been given the opportunity to work again with Riverside and North Tyneside Council.”
The development boosts the council’s drive to deliver 3,000 new affordable homes over the next ten years.
Mayor Norma Redfearn said: “This is a vital development, which is going to breathe new life into a disused site and help us achieve our aspirations for affordable housing over the next decade.
“Local people deserve the opportunity to live in a modern, attractive home, at a price they can afford and I’m delighted to see our partners getting started on site.”
Rob Pearson, General Manager for the North East, Yorkshire and the Humber at the Homes and Communities Agency, said: “These new homes, built on brownfield land, shows the Government’s commitment to increase housing supply and halt the decline in affordability.
“As well as using redundant industrial land, our funding is improving housing choice for people in North Tyneside by providing shared ownership homes, which allows people to take their first step on the housing ladder.”