Moda Living and its joint venture (JV) partner Apache Capital Partners have signed a section 106 agreement with Brighton and Hove Council worth £10m for their proposed 824-home development in Hove.
The signing of the agreement will see the Sackville Trading Estate, a largely rundown, brownfield site adjacent to Hove station, transformed into a thriving inter-generational community.
The scheme, which already has planning permission, will contain 564 new homes for rent delivered alongside 260 senior living homes, with 10% of the BTR homes offered as affordable housing and charged at a 25% discount to Local Market Rent.
James Blakey, Planning Director, Moda Living, said: “As an Operator first and foremost, we’re looking to invest and grow in the communities we seek to create. That’s why we’re so happy to be able to invest in the ways set out in this Section 106 agreement – that’s £10m into the local community, including over £4m on projects spanning education, employment, sport, public art and green spaces, alongside the creation of over 560 full-time jobs.
“Our build-to-rent neighbourhoods are introducing a completely new way of living and working. We provide more opportunities, amenities, options and facilities than ever before, all built sustainably with an especially strong commitment to their local communities, something that is even more important at difficult times such as this.”
Moda and Apache Capital will invest into recreational amenities and sustainable transport initiatives, including a bike scheme at the development, there will also be a Car Club, provided by Brighton & Hove.
The scheme will also include communal lounges with events and wellbeing workshops, private dining areas, restaurants, shops, a village hall, 50,000 sq ft of office and co-working space.
For the senior living accommodation, the section 106 agreement guarantees that they will be provided with 24/7 availability of emergency care onsite, security, a minimum of 4 hours of personal care to those who need it, regular reviews of the residents care needs, and the provision of at least one daily meal.
Peter Kyle MP for Hove said: "This is great news as our communities will now be able to see the benefits of the regeneration of this tired area. I'm particularly looking forward to seeing nearly £1.8M spent on outdoor/indoor sports, parks and gardens, children’s play space, allotments and our greenspace. With Council budgets slashed and the residents of Hove needing enhanced outdoor space in the Covid-19 era, this money will fulfil this need."
Moda hopes to begin developing the site in 2021, with over 560 full-time jobs anticipated to be created.
