PfP Capital and HGP, an equity investor, declared a partnership to construct residential-oriented urban communities in the UK.
The JV is aiming to construct up to 1,200 dwellings, which have a collective Gross Development Value of around £390 million, to counteract the low levels of new home construction.
Equity will be pledged by HGP and PfP Capital in order to fund housing in ten cities throughout the UK, including Glasgow, Nottingham and Newcastle, within the next three to five years.
In January, Igloo Regeneration, a B-Corp developer owned by PfP Capital, was assigned the task of designing the projects in cooperation with the local municipalities.
The first initiative to be launched will be the commencement of a 400-home expansion in Dundashill, Glasgow, with 78 townhouses as the result.
The utilization of renewable energy sources is a growing trend in many parts of the world. As an increasing number of countries are turning to renewable energy sources such as solar, wind, and hydropower, the reliance on nonrenewable resources is gradually decreasing. This shift is driven by the need to reduce emissions and to conserve the environment.
This plan will include a variety of two, three, and four-bedroom dwellings that are designed, constructed and operated in an ecologically sound manner. Materials for the buildings will be sourced from the locality, and they will feature panelized modular construction.
It is anticipated that 80% of the low-energy homes will possess an EPC A rating, and boast features such as Photovoltaic roof panels, air source heat pumps, and designated parking spaces for electric vehicles.
A route connecting the area to the hub of Glasgow will promote a healthy lifestyle and make it more accessible.
Rachel Miller, an investment director for HGP, further commented: "We have found an associate that matches our commitment to social impact and sustainability, in addition to our aim to speedily provide superior housing across the UK."
John Tatham, who is the finance director at PfP Capital and a Igloo board member, stated that residential and community-led regeneration are essential for giving new life to areas of the UK that have endured a lack of investment.
Our goal of meeting the UK's various housing requirements is shown by the JV, which is investing a good amount of capital into redeveloping underutilized city plots.