Backed by the National Housing Bank, Homes England and Aviva launch £100m fund to develop up to 3,300 new homes and one of the first schemes is 130 homes in north Liverpool. Tony McDonough reports
A scheme to build more than 100 new homes in north Liverpool will be funded by a new £100m investment pot.
Homes England and Aviva have launched one of the first investments supported by the newly established National Housing Bank. Working with Place Capital Group, this new partnership will look to build up to 3,300 new homes.
Already in the development pipeline is a project in north Liverpool, close to Greatie Market, that will see the construction of 135 new homes, including approximately 110 Build to Rent (BTR) properties and 25 Rent to Buy homes which will be owned and managed by housing association Torus.
Torus will also carry out a feasibility study on the Central Tin site next to Greatie Market with the aim of building up to a further 30 homes. This is within the zone earmarked by Liverpool and Sefton Councils for a 10,000-home Liverpool North New Town.
Homes funded by this new partnership will be developed on underused brownfield sites in regional UK towns and cities, improving housing stock and creating visibly cared for neighbourhoods.
High quality, low energy rental homes will be aiming at a market segment of lower to middle income working families, providing certainty of tenure in urban areas with good commuting links and social infrastructure.
This investment is one of the first to be supported by the National Housing Bank, the Government’s new vehicle for long‑term place‑shaping and housing investment.
Operating as part of Homes England, the bank deploys flexible, government‑backed finance across funds, platforms and partnerships to unlock housing and regeneration projects, crowding in private capital and accelerating delivery at scale.
David Smith-Milne, founder and chief executive of Place Capital Group, said: “Having secured major regeneration projects in Manchester and Liverpool to kick start this investment, we are excited about our continued expansion nationally to deliver much needed family housing in underserved markets.
“Vescock Street will be the first quality housing scheme in North Liverpool for a generation and will kick start a wider programme of renewal.
“The partnership we have developed with the council, Homes England and Aviva will deliver high quality, low energy, beautifully designed homes set within an environment that encourages neighbourliness and community.”
This week, a coalition of 23 Liverpool city region housing associations said multiple funding streams from Government, combined with a £2bn investment fund, as well as the new Mayoral Development Corporation, means Liverpool city region now has a ‘golden opportunity’ to usher in a new era of housebuilding.
Claire Griffiths, chair of Liverpool City Region Housing Associations, told LBN: “Our members have been investing in new affordable homes for many years, however the drive and push we are seeing now for accelerating and increasing delivery feels different.
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“LCRHAs have been working closely with the Liverpool City Region Combined Authority and Homes England to agree on the short and medium term pipeline schemes to move forward with.
“We are now seeing multiple funding streams coming through and that is exactly what we need.”