Building work on 172 new homes at Anchorwood Bank in Barnstaple is set to start in November. It is a huge project for North Devon Homes and it is hoped the new homes will have a knock on effect by providing even more housing for local families. The site will feature 135 open market homes and 37 affordable and charity says all profits from the sale of homes will be ploughed back into providing more affordable homes in North Devon. A ceremony to mark the start of the work is due to be held at the site in early November. The build is expected to last four years and will be completed in five phases working eastwards from the new bridge end of the site. The redevelopment of Anchorwood Bank will see a mixture of housing and commercial units, with big names Next, DFS, Chiquito plus Frankie and Bennys already signed up for the site, with the new units scheduled to open next summer. The scheme on the former Leaderflush Shapland site is thought to be the largest single regeneration in Barnstaple to date, costing around £60million, with the commercial side of it being constructed by Wessex Investors. The new homes at Anchorwood Bank have been designed by local architects Woodward Smith, with a range of housing from one-bedroom apartments through to five-bedroom houses. Piazzas and a central park will include plenty of seating and greenery, North Devon Homes has said, adding that the site plan and housing has been designed with a strong social aspect in mind. The housing provider acquired the site in August 2015 and it says it is an example of taking a more innovative approach to tackle the significant housing issues in North Devon. A statement said the regeneration project would have a long lasting, positive impact on the area, creating a significant number of jobs and opportunities for local people. NDH chief executive Martyn Gimber said: This is the start of what will be an exciting new housing development which, in conjunction with the shopping and restaurant area, will transform this once derelict site into a new, vibrant, waterside space for people to enjoy and which will be of benefit to the whole area. We are proud to be working with local partners bringing in many new jobs and substantial investment into our community.