Public-private partnership to deliver affordable homes

A new public-private partnership, focussed on affordable housing delivery has been announced by Pension Insurance Corporation, Muse, and Homes England.

It is hoped that the Habiko partnership will deliver 3,000 low-carbon, low-energy affordable homes for the rental market, unlocking institutional investment.

The rent for the new homes will be set at 20 per cent below the local market rent.

The homes will be built in areas of high demand across England and the developments  aim to create social value for communities, including boosting the local economy through job creation and new skills to drive green innovation.

Peter Denton, chief executive of Homes England, said: "Attracting institutional investment into the housing sector is critical to build the new homes the country needs.

"This partnership supports our partners’ objective to deliver low carbon, low energy, affordable homes, bringing together the technical expertise and capability of Muse with the financial capacity of one of the UK’s largest pension fund insurers, cementing PIC as a significant force in delivering affordable housing."