Hill and L&G partner on £450m Coventry city centre revamp

The deal will see L&G take possession of 145 properties for social lease and 55 for shared possession, unfold throughout the primary 4 blocks fronting Queen Victoria Highway and Market Manner.

These models type a part of part one of many wider regeneration, which can ship 991 properties, 8,000 sq m of economic house and 17,000 sq m of public realm within the coronary heart of town.

Building is predicted to start later this yr with first completions due by late 2027.

Andy Hill, group chief govt at Hill, mentioned the tie-up with L&G will guarantee reasonably priced properties are “genuinely central” to the lifetime of the brand new neighborhood from the outset.

L&G Reasonably priced Houses chief govt Ben Denton mentioned the deal reveals how “institutional capital could be deployed to fulfill housing want whereas delivering high-quality locations to stay.”

Coventry Metropolis Council, the West Midlands Mixed Authority and Houses England have all backed the scheme, with funding in place to unlock early supply.

Cllr Jim O’Boyle, cupboard member for jobs, regeneration and local weather change, mentioned: “This settlement is a big and necessary step in bringing ahead the kind of housing that native folks want.”

All properties will embrace personal balconies or terraces and entry to podium gardens. The broader scheme will function rooftop greenspace, photo voltaic panels, district heating and cycle hyperlinks.