The Sandy Loan development has been selected as a finalist in the Affordable Housing Development category.

The development, which consists of 15 two bedroom apartments, was delivered in partnership by Dundee City Council, Scottish Futures Trust and Ferrier Holdings Ltd and the properties are managed by Northern Housing Company, part of the Hillcrest Group of Companies.

Hillcrest Group deputy chief executive, Fiona Morrison, said: “We are delighted that the judges have included Sandy Loan in their shortlist for the awards.

“Thanks to the innovative NHT initiative and the good work of our partners, the development is giving people and families an opportunity to initially rent and then move into owner occupation in a desirable and previous unattainable area.

“Sandy Loan has proved to be extremely popular, with all 15 units in the development have been fully occupied since they were completed over a year ago.”

Under the NHT initiative, which is designed to address the acute shortage of affordable homes in Scotland, Sandy Loan offers local people a realistic avenue into home ownership whereby they rent a property at affordable mid-market rents for a period before being able to purchase their home in 5 to 10 years’ time.

Councillor John Alexander, Dundee City Council’s convenor of neighbourhood services, said: “This is a tremendous endorsement for the high quality properties delivered by Ferrier’s.

“This scheme delivered much needed quality housing, in an area of the city in which it has been traditionally difficult to build affordably priced homes in.

“This project has offered an opportunity for residents to enter home ownership after 5 to 10 years of mid-market rent. This is one area of a wider programme of investing in different types of housing in Dundee.”

The Scottish Home Awards is an annual event which highlights excellence in building, design, marketing and customer care across the house building industry in Scotland.

Michael Ferrier of developers Ferrier Holdings Ltd, added: “Having Sandy Loan nominated as a finalist is a tremendous accolade.

“Much credit is due to our talented architect and designer, Heinz Voigt of The Voigt Partnership in Arbroath.”

In its category, Sandy Loan is up against 5 developments all located in Edinburgh and Glasgow.

Winners will be announced at the awards ceremony which is to take place on 16 June at The Edinburgh Corn Exchange.