At least 75% of Habiko’s new homes in Chester and Warrington will be for affordable rent
Habiko, an affordable homes partnership between Homes England, Muse and Pension Insurance Corporation (PIC), is planning 590 new affordable homes for rent on sites in Chester and Warrington.
This will be Habiko’s first set of homes after the company was established in November 2024.
In Chester, architect shedkm is designing 350 homes on Charterhall Drive next to the city’s train station in preparation for planning submission later this year.
The new neighbourhood will contribute to the council’s 15-year economic regeneration strategy for Chester and its town centre, which was originally published in 2012.
In Warrington, Habiko is developing designs with AHR Architects for around 240 apartments between Academy Street and Mersey Street, close to the Times Square district.
The public-private partnership said the schemes will have a minimum of 75% affordable homes for rent, which will be 20% below local market rates. This could stretch to up to 100% in areas where affordable housing need is not met by the market.
This first instalment of homes forms part of the JV’s aim to deliver 3,000 low-carbon, low-energy homes over the next 12 years.
Under the partnership, PIC, which has invested around £4bn in submarket housing to date, will forward fund all homes and acquire them at the end of the construction period.
Habiko aims to be self-sustaining within 12 years, generating revenue to cover ongoing costs without relying on further public funding.
No comments yet