Two high-rise blocks of flats in Parkwood Rise, Keighley will undergo a significant regeneration to attract young professionals to the town.
ALB Investments has bought Leylands House and Delph House which will be redeveloped into 190 high specification apartments.
Arran Bailey, managing director at ALB Investments, said:
“This project will breathe new life into Keighley and we are confident that once the regeneration is complete, it will help the area turn a corner and offer a positive future for the local community and economy.
“The apartments will be high specification and targeted at young professionals to increase footfall to the area and boost the local economy. The apartments have such amazing views of beautiful countryside and it only seemed right to regenerate the blocks to match the surrounding landscape.”
The regeneration will include 95 one-bed apartments and 95 two-bed apartments and the project is being carried out by the main contractor headoffice3.
Jez Lester, Incommunities’ Assistant Chief Executive – Asset Management, said:
“Having explored all the options, this sale provides the most viable way to give the existing blocks a new lease of life.
“ALB’s investment will retain the buildings for modern quality living and offers a significant boost to the town. The sale will also help us to reinvest in our existing stock and continue our work to help meet the growing demand for more new family-sized housing.”
Incommunities has worked closely with residents of both blocks to meet their specific housing needs, help with re-housing and provide every assistance with individual moves. Both blocks are now empty.
Work on the 53-year-old blocks is due to commence in March.