The 135 new homes are a mixture of modern one- and two-bedroom flats and two-, three- and four-bedroom houses.
The development was designed to provide local people with quality affordable homes close to Aylesbury town centre, located alongside the Grand Union Canal.
85 of the homes at Kingfisher Place have been allocated to people in housing need nominated by Bucks Home Choice, while 46 of the homes are for shared ownership.
The remaining four flats are care and supported housing properties adapted for wheelchair users.
The residents in these homes have moved from supported living to independent living flats with mental health outreach support.
The virtual opening event was attended by local councillors and staff from Buckinghamshire Council, Hightown board members and staff, as well as consultants and contractors involved in the building of the new development.
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Councillor Isobel Darby, cabinet member for housing and homelessness at Buckinghamshire Council, declared the new affordable homes open, following a special socially-distanced ribbon cutting at Kingfisher Place.
“At the best of times this is a relatively expensive part of the country to live in and there is a real shortage of affordable homes for people on modest incomes,” she said.
“This is something that Buckinghamshire Council is determined to address and schemes like this lead the way.
“As we come to terms with both the health and economic impact of the coronavirus pandemic and move into the recovery phase, we need to help people to live their lives as normally as possible.”
David Bogle, chief executive at Hightown Housing Association, commented: “We are delighted to have been able to develop 135 new affordable homes in central Aylesbury and at a very sustainable location.
“We look forward to working with the new combined authority in Buckinghamshire to build more homes for those unable to buy or rent at market rates."