Two Isle of Wight housing providers have reaffirmed their commitment to build a major affordable housing development on the edge of Newport.

New plans have recently been unveiled by Captiva Homes and Sovereign Network Group to develop Acorn Farm, on Horsebridge Hill, near St Mary's Hospital.

In total 203 houses and flats are proposed — 72 flats for key workers and 131 homes for the open market.

Sovereign is on the verge of securing £30 million which the two companies hope can be used to make the 131  homes designated as 'affordable'.

The majority could be socially rented properties with the remainder being shared ownership opportunities.

It is thought the first properties could be delivered in the next two years.

Legally, the funding cannot be handed over until planning permission is granted and a contract is signed, but Captiva says the housing association has board approval for the funding.

Sovereign has acknowledged the current shortage of affordable houses on the Island and has committed to creating more sustainable homes.

Jenny Grote, assistant director of new business growth for Sovereign, said, working with Captiva, they have been able to design a mix of affordable housing they believe is desperately needed.

Captiva's chief executive, Iain Delaney said the properties could be a meaningful step forward in delivering affordable homes for Islanders.

The Island developers also said it was the first scheme in a long time that could deliver sustainable, manageable, energy-efficient affordable homes on the Island.

Having listened to local community needs, Captiva says it has incorporated a play park in plans and proposed the homes would be in a range of sizes and tenures to make them more accessible for Islanders.

It has also worked with the next-door Isle of Wight NHS Trust to create a cycle and footpath network, which will run through Horsebridge Hill to Dodnor Lane, opening up the link to the Newport Cowes cycle path.

Captiva is looking for feedback on its plans for Acorn Farm, which can be submitted through a consultation on its website:

You can view the plans, 23/01538/FUL, on the Isle of Wight Council's planning register. Comments can now be submitted until November 3.