What's Happening?
A joint venture involving Homes England, Swiss Life Asset Managers, and Capital&Centric has been launched to build over 2,250 homes in some of England's most deprived communities. The Impact & Places Partnership
aims to deliver £860m worth of residential development over the next decade, focusing on areas with acute housing demand. Homes England will hold a 40% stake, while Swiss Life Asset Managers and Capital&Centric will share the remaining 60%. The initiative plans to create high-quality, mixed-use neighborhoods with energy-efficient homes and inclusive public spaces. The partnership seeks to direct private capital into the residential market and support smaller housebuilders, contributing to the government's target of building 1.5 million homes during the current parliament.
Why It's Important?
This joint venture represents a significant investment in addressing the housing crisis in England, particularly in underinvested areas. By focusing on deprived communities, the initiative aims to stimulate local economies and improve living conditions. The collaboration between government and private entities highlights a strategic approach to leveraging institutional capital for public benefit. Supporting SME developers through forward funding and co-investment can enhance the diversity and resilience of the housing market. The project aligns with broader government goals to increase housing supply, potentially easing affordability issues and fostering community development.
