RETIREMENT flats giant McCarthy Stone will be given more than £340,000 of public money to help it develop a Bradford site.

The company was granted planning permission for the development of 51 senior living apartments on a former industrial site off Bradford Road in Idle last summer.

Construction work started on Monday, and the project is expected to cost £10.7 million.

On Thursday, West Yorkshire Combined Authority is expected to award the development a grant from the Brownfield Housing Fund to help make the scheme more viable.

Members will be told that “previous quarry usage” on the site has meant developing the land will be particularly costly.

The Brownfield Housing Fund was allocated to West Yorkshire by the Government as part of its devolution deal.

It allows WYCA to provide grants to developers to build housing on long-vacant brownfield sites in areas where “market failure” has meant few are willing to invest.

This could be because the cost of developing the land would be higher than the income the developer would receive.

There have been just four Bradford sites that have been granted funding through the scheme.

WYCA’s Place, Regeneration, and Housing Committee will be asked to award funding to several new projects, including the McCarthy Stone scheme.

Bradford Telegraph and Argus: An artist's impression of the planned developmentAn artist's impression of the planned development (Image: McCarthy & Stone)

Members will be told the development will also be getting a £371,000 grant from Homes England.

A report to the committee says: “The site is currently cleared. However, due to the previous quarry usage, there are increased costs associated with the development.

“This scheme will provide housing within the Bradford area that is specific for older residents.

“The business case states that there has been an increase in the older population within Bradford (28 per cent increase in the 65+ age group between 2001 and 2019) equating to a need of 217 specialist properties per year.

“The site is near Morrisons supermarket, a Homebase unit, a pharmacy, an opticians, and a discount store. There are also public open spaces at nearby locations providing access to open green space which are easily accessible by either public transport or straightforward walking routes.

“The development of this specialist accommodation will increase living standards by creating new housing for older people. The apartments will be priced to meet the needs of local people.”

The development will be completed by spring 2025.

The site had previously been earmarked for 14 homes, but that development never materialised and the site was sold to McCarthy & Stone.

The committee meets in Wellington House, Leeds on Thursday at 11am.

A MCCarthy Stone spokesman said: "Our new Idle development is aimed specifically at enhancing the availability of more affordable housing in and around Bradford through the McCarthy Stone's shared ownership scheme in partnership with Homes England, so retirees can enjoy the lifestyle they’ve dreamed of without having to commit to the full purchase price."