Shared Ownership Units definition

Shared Ownership Units means the Affordable Dwellings to be occupied by persons who are in Housing Need whereby a person granted a Shared Ownership Lease can purchase an initial equity share in a Shared Ownership Unit of not less than 25% and not more than 75% and pay rent on the unsold equity with flexibility for such a person to purchase further equity shares in the Shared Ownership Unit up to 100% or such other equity sharing or retention terms from time to time approved by the Borough Council

Shared Ownership Units means the number of Flexible Dwellings disposed of or to be disposed of by way of Shared Ownership Lease set out within the Firm Scheme Details; Site means the site (including any part of it) identified to the GLA as being the area of land comprised or to be comprised in a Firm Scheme and/or the Affordable Dwellings and common areas developed as part of such Firm Scheme;

Shared Ownership Units means those Affordable Housing Units that are to be disposed of by Shared Ownership Lease or other Intermediate affordable housing as that term is defined in the National Planning Policy Framework and approved by the Council as a form of Affordable Housing at the time of the [submission of the Reserved Matters Application] Commencement of Development

Examples of Shared Ownership Units in a sentence

• Members were reminded that planning permission had been received in June, 2020 for a mixed use scheme including 100 residential units, of which, fourteen had been identified as Affordable Rented Units and six had been identified as Affordable Shared Ownership Units.

• Mark Taylor, Deputy Chief Executive had submitted a note declaring an interest in items 4 and 11 (Purchase of Affordable Rent and Shared Ownership Units – Northicote Development (WV Living) due to being a Director of WV Living.

• The Section 106 Agreement specifies the proportion of Shared Ownership Units and Social Rented Units that should be provided.

• In the event construction of any of the Dwellings starts, the Owner undertakes to the Council to construct the Affordable Rent Units, Other Affordable Units and the Shared Ownership Units in the locations and with the floorspace, number of bedrooms and size of bedrooms as specified on the attached plan numbered *.

• There are currently 47 Shared Ownership Units within the Association's stock.

More Definitions of Shared Ownership Units

Shared Ownership Units means the [ ] units of Affordable Housing as described in

Shared Ownership Units means 191 Residential Units constructed or to be constructed within Block 1 on the Kingfield Road Residential Land in accordance with the Kingfield Road Planning Permission and shown for illustrative purposes on Plan 7 (and “Shared Ownership Unit” shall be construed accordingly);

Shared Ownership Units means the Affordable Intermediate Units in respect of which a Shared Ownership Lease is granted and "Shared Ownership Unit" shall mean any one of these units;

Shared Ownership Units means units of Shared Ownership Housing

Shared Ownership Units means Affordable Housing Units which will be offered on

Shared Ownership Units means Affordable Housing Units which will be offered for shared ownership by the Owner to persons in need of affordable housing in accordance with Schedule [ ]

Shared Ownership Units means the Affordable Housing Units to be provided by an Affordable Housing Provider by way of a Shared Ownership Lease granted to eligible households whose needs are not met by the market, where the percentage equity share to be marketed and the percentage rent payable under retained equity is agreed in writing between the Borough Council and the Affordable Housing Provider before the Affordable Housing Units are marketed to the public;