A HOUSING scheme which developers claim will help struggling residents get on York's property ladder has been completed.

The Imperial Court project includes 12 two-bedroom apartments on the former Imperial Hotel site in Clifton.

But only 50 per cent of each flat is being sold.

The other half-share continues to be owned by landlords Tees Valley Housing Group, with a chance for the resident to buy more after a year in the property.

A group spokesman said: "The idea is that 50 per cent of the property value is paid by a mortgage, and the other half is rented from the landlord."

After a year the tenant is able to buy further shares, in 25 per cent blocks.

Tees Valley Housing Group claims the part-ownership scheme, which has become common in London and has been adopted in housing developments elsewhere in York, redresses the huge increases in property prices which make it impossible for many to own homes.

Alison Thain, the group's chief executive, said: "House prices in York have risen sharply in recent years, creating a barrier to getting on the property ladder that many people are finding it hard to overcome.

"Therefore, shared ownership is becoming an increasingly attractive option and these homes will hopefully prove a boost to Clifton and the people who have previously struggled to find affordable housing there."

The Imperial Hotel site, at the corner of Crichton Avenue, has been derelict since the building was demolished in the mid-1990s. Residents welcomed the start of work to build the flats, which saw the Tees Valley Housing Group in partnership with local developers S Harrison and City of York Council.

Councillor Sue Sunderland, the council's executive member for housing, said: "Shared ownership is a great scheme for York because it allowed people to get a foothold on the property ladder."

Updated: 10:51 Wednesday, August 20, 2003