Strong foundations for residential scheme’s next phase as funding is secured

Strong foundations for residential scheme’s next phase as funding is securedYorkshire housebuilder Erris Homes has secured £5m in funding for phase two of its £15.9m 37-home development off Rochdale Road in Greetland, Halifax.Called Calder Mews, the development’s second phase has been given funding by Paragon Bank’s development finance division.It will feature six of Erris Homes’ house types across a mix of 14 four- and five-bedroom detached homes. Phase two has a gross development value of £8.5m.The scheme’s second phase follows the success of phase one at Calder Mews, which comprises 23 three and four-bedroom semi-detached and detached homes. The gross development value of phase one is £7.4m.Work on phase two of the development is now underway, with the first residents expected to move into their homes in summer 2024.As well as providing new homes, Erris Homes is also contributing £95,000 to education and initiatives that will benefit the local community.Erris Homes CEO, Michael Howard, said: “It’s fantastic to have secured funding for the second phase of Calder Mews following the successes we have seen across the development’s first phase.“There is high demand across the Calderdale region for high quality new homes. Erris Homes is committed to helping satisfy this demand with the range of house types which will be available at the development.“We now look forward to works progressing on the second phase to bring much-needed new homes to the locality.”A team from law firm Gordons, led by partner and head of residential development Michael Finnett, advised Erris Homes on securing the funding for the second phase of Calder Mews.Finnett said: “Erris Homes is delivering much-needed quality homes across Yorkshire, with a product that focuses on high standards of design, specification and comfort.“It’s great to have supported the team in securing this funding for Calder Mews and I look forward to progress being made on the second phase of the development.”