It's affordable housing. Only £50k a pop according to the plans.
Agreed it's 10 years too late, and I imagine the margins are small, but it is in a different market to a lot of the other flat developments around town.
Still that's a £17500 deposit plus your fees so you're probably talking almost £20k in the bank to buy a £50k flat...I very much doubt those with £20k in the bank would want to buy a £50k flat.