The Hill Group and L&G have formed a partnership to deliver 200 affordable homes in the first phase of the City Centre South regeneration scheme in Coventry.
Under the terms of the deal, L&G will acquire 145 homes for social rent and 55 for shared ownership. The new homes will be delivered by The Hill Group across the scheme’s first four buildings, which are prominently located at the front of the development on Queen Victoria Road and Market Way.
Phase one of the wider £450m regeneration scheme will deliver 991 new homes, 8,000 sq m of commercial space and 17,000 sq m of new public open space.
Andy Hill OBE, group chief executive of The Hill Group, said: “We are delighted to be working with L&G for the first time on the delivery of affordable homes. Their commitment to high quality, long-term investment in communities aligns closely with our own values. From the beginning, we set out to make City Centre South a new benchmark for inclusive regeneration, and this partnership ensures that the very first homes delivered will be genuinely affordable and visibly central to the life at the new development.”
Ben Denton, chief executive of L&G’s affordable homes division, added: “We are dedicated to addressing the UK’s pressing housing crisis. We’re uniquely positioned to deploy significant institutional capital to deliver safe, secure, and affordable homes where they’re most needed, all while ensuring an excellent customer experience. Our involvement in City Centre South perfectly illustrates this commitment, and we’re proud to partner with The Hill Group and Coventry City Council on this vital regeneration project.”
Jim O’Boyle cabinet member jobs, regeneration and climate change at Coventry City Council, said: “This agreement is a significant and important step in bringing forward the type of housing that local people need. I’m particularly pleased to see affordable and social homes being placed right at the heart of the development with some being delivered as part of the very first phase. It shows a real commitment to creating a welcoming inclusive community in the city centre.”
