UK-based homebuilder Vistry Group has announced a £34m ($43.29m) deal that will see it develop 133 affordable family homes in Rushden, UK, in collaboration with Platform Housing Group.
The project is set to begin in mid-2024.
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Previously owned by Co-op and marketed by the Savills East Midlands development team, the site stands to benefit from complete planning approval.
The new Rushden project will feature a mix of one to four-bedroom houses and maisonettes, with air-source heat pumps aimed at reducing carbon emissions.
The development is designed to integrate with the local community with the inclusion of green spaces.
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Additionally, the scheme will channel more than £700,000 into local services, benefiting the wider community.
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By GlobalDataVistry South East Midlands managing director Andy Reynolds said: “We are thrilled to be working with Platform Housing Group on this 100% affordable development which will not only meet the housing needs of the community but create beautiful green spaces which blend with the local environment.
“We’re excited to be a part of Northampton’s growth and to be entrusted with the build of these much-needed new homes which will contribute to the unique character of the area as well as releasing over £700,000 of investment in local services to create a thriving and sustainable community.”
Vistry will use modern construction methods by manufacturing the homes off-site at its Vistry Works East Midlands factory in Bardon.
This approach of using open panel timber frames is claimed to expedite the building process, as well as lower the carbon footprint of each home.
Compared to traditional brick-and-block housing, each property built with these panels is expected to save approximately 14,460kg in carbon dioxide equivalent.
The professional advisers for this deal include Rachel Saint of Paris Smith representing Co-op, Patrick Aide of Freeths for Vistry Group, and Gabor Taller for Platform Housing Group.
This comes after Riverside and Vistry Group, through Vistry’s Countryside Partnerships brand, celebrated construction milestones for their Bromley estate regeneration projects, last week.
