{"id":51826,"date":"2019-01-30T15:40:40","date_gmt":"2019-01-30T15:40:40","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=51826"},"modified":"2019-01-30T15:40:40","modified_gmt":"2019-01-30T15:40:40","slug":"modular-homes-london-rooftops","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/mmc-news\/modular-homes-london-rooftops\/51826\/","title":{"rendered":"Funding injection to unlock modular homes on London rooftops"},"content":{"rendered":"

Communities Secretary James Brokenshire has announced a multi-million pound funding injection from Homes England<\/a> to build new modular homes on top of some of the capital\u2019s buildings<\/h2>\n

Homes England has struck a three-year, \u00a39m deal with SME developer, Apex Airspace Developments<\/a> (Apex).<\/p>\n

Apex is a pioneer of \u2019airspace\u2019 development where unused airspace above residential, commercial and public buildings is used as a location for new homes.<\/p>\n

The Homes England funding will help Apex deliver five new sites across London, in turn helping tackle the Capital\u2019s housing shortage<\/a>.<\/p>\n

The funding will enable the offsite construction of the homes prior to transportation to each of the five sites. These will then be lifted on top of existing buildings with a crane \u2013 resulting in minimal disturbance to existing tenants and residents.<\/p>\n

The first of the modular homes will be completed by the summer \u2013 and in total 78 rooftop homes will be built under the three-year deal. Homes delivered will be priced within the Help to Buy threshold to help support more people into home ownership.<\/p>\n

The project is being funded from the Government\u2019s \u00a34.5bn Home Building Fund.<\/p>\n

Gordon More, Chief Investment Officer for Homes England, said: \u201cWe are committed to working with a diverse mix of developers to support innovation within the market and the funding agreed with Apex is an excellent example of how collaborative working can increase delivery, pace and quality of much-needed new homes.<\/p>\n

\u201cThis funding will enable Apex to deliver new homes in areas of high need on existing rooftops. Importantly, and in line with the National Planning Policy Framework<\/a>, it will do so using modern methods of construction to increase the speed and quality of the homes, with minimal disruption to existing residents.\u00a0 It serves as an exciting model for delivering affordable housing in areas of tight land supply and high density.\u201d<\/p>\n

Arshad Bhatti, Chief Executive Officer of Apex, added: \u201cApex is passionate about the potential for airspace development and the positive contribution it can make to the supply of new homes, not only in London but, in time, elsewhere across the UK too.<\/p>\n

\u201cThe funding package agreed with Homes England builds upon the earlier Business Growth Fund equity investment. The debt and equity financings combined with Apex\u2019s expertise, will help turn the airspace development vision into reality helping to upscale the delivery of new homes.<\/p>\n

\u201cApex has invested heavily in airspace development and our research shows the potential for up to 180,000 new homes in London alone. We are delighted to be working with Homes England and welcome its positive and supportive approach in helping to deliver innovative solutions to the housing challenge.\u201d<\/p>\n

\"modular<\/p>\n

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