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Housing association signs £34m deal with Vistry for 133 affordable homes in East Midlands
A housing association has signed a £34m deal with house builder Vistry Group to build 133 affordable homes in Rushden, Northamptonshire.
Platform Housing Group will own and manage the homes, which will consist of one, two, three and four-bedroom houses and maisonettes. All the homes will contain air source heat pumps to reduce carbon emissions.
The site has full planning permission and was formerly owned by Co-op. Work is expected to start in summer 2024.
All the homes will be manufactured offsite using open panel timber frames from Vistry’s East Midlands factory in Bardon. Homes built using these panels emit less carbon than a traditional brick-and-block house, Vistry said.
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Platform Housing Group, which owns 48,000 homes across the Midlands, is working with Vistry on a number of housebuilding schemes in the region. These include developments in Brindley Edge, Keresley and Sphinx Drive in Coventry, Brookmill Meadows in Warwickshire, Great Haddon, and Kingmakers View in Wolvey.
Michael Baggett, director of land and partnerships at Platform Housing Group, said: “Strong partnerships that truly work for all parties will be the key to unlocking opportunities and delivering affordable housing at scale. At Platform, we are determined to keep building homes and working with Vistry, we are proud to be offering so many people the chance to have a place they can call home.”
Andy Reynolds, managing director of Vistry South East Midlands, said the “100% affordable development” will “meet the housing needs of the community” and create “beautiful green spaces which blend with the local environment”.
He added that the homes would release £700,000 of investment in local services to “create a thriving and sustainable community”.
Ann Taylor, director at Savills, acting on behalf of Co-op, said: “The land has been vacant for a long time, therefore the new homes, the significant Section 106 contributions into the wider community, and the associated new jobs are all a welcome benefit of development.”
Yesterday, Vistry reported increased completions and profits in its results for 2023 due to high demand for its affordable housing business.
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