Angus Council and Pert Bruce Construction Ltd are working in partnership to regenerate the brownfield site at Hill Place and Lower Balmain Street, Montrose.
The site is being developed into 20 new homes which will be available for sale.
The first phase is nearing completion and will comprise of 10 flats and townhouses. Seven flats will be available to buy under the low cost home ownership scheme.
The scheme is part of the council’s on-going commitment to provide a range of options for homebuyers throughout Angus and is aimed specifically at first time buyers on low incomes who may be unable to purchase without assistance.
Angus Council housing spokesperson, Councillor Donald Morrison said: “We are acutely aware of how challenging it can be to buy your first home and it is particularly important that we do what we can.
“By developing a range of housing options we are assisting buyers who live or work in the town to achieve home ownership.
“Through our affordable housing programme we’re also working with developers to ensure many of the new homes being built in the county are available to local people through various home ownership schemes.”
The joint venture, under the Scottish Government’s Survive and Thrive initiative, allows the two bedroom flats which have a value of approximately £97,000 to be sold with a discount of 25 per cent off the sale price to eligible first time buyers, which means they pay £73,000.
Angus Council are administering the scheme and applicants will be expected to meet relevant criteria when they apply to buy one of the flats.
For further information on the development or details of purchase through Survive and Thrive, contact Angus Council housing division through ACCESSLine 08452 777 77 or T Duncan and Co 01674 672533.