Housebuilder Hill and retirement specialist Hanover have signed a joint venture to develop a £25.7m ‘multi- generational’ scheme in north London.
The pair will develop 72 homes at the Newington Gate scheme in Newington Green: 32 for first-time buyers, 28 for affordable renters over 55 and 12 for shared ownership. Some 56% of the scheme will be affordable. Newington Gate will also include 5,900 sq ft of retail space.
It is the third joint venture between Hill and Hanover, which also collaborated on Woodside Square in Muswell Hill and Quadra in London Fields. Work has already started on the site and is expected to be completed in summer 2020.
“Multi-generational living has numerous benefits for both younger and older residents and while it is growing in popularity across London, developers have a responsibility to encourage this where possible by providing suitable housing,” said Paul Jordan, regional director at Hill.
Innovative delivery of retirement housing will be high on the agenda at Property Week’s Retirement Living conference on 6 November at RIBA in London. The latest speaker to join the stellar line-up is Maria Brenton of the UK Cohousing Network, who will speak about her work with the UK’s first and only senior co-housing community.
The conference will also feature the first public presentation by developer McCarthy & Stone on its new strategy.