Gresham House and ilke Homes have cause for celebration, as of 30th November the organisations officially broke ground at their first partnership zero carbon development at Hope Green in Stanford-le-Hope, Essex.
Delivered by ilke Homes and funded by Gresham House, via its evergreen UK limited partnership Gresham House Residential Secure Income LP (GH ReSI LP), the development at Hope Green is set to become one of the first and largest operational net zero carbon residential developments to be delivered in the country. Sales launch off plan in January 2022 and will be marketed by the sales and marketing team at SO Resi exclusively for shared ownership.
Due to additional investment by Gresham House more than two-thirds of the properties at Hope Green will include innovative technology meaning the houses will generate enough energy to become operationally carbon neutral. Crucially, the boilers will be replaced with air source heat pumps, which require just a third of the energy of conventional heating systems. In addition, photovoltaic (PV) panels will be installed which will generate electricity to support the functionality of the home. Gresham House have worked with ilke Homes to build in other sustainable measures including highly insulated homes, efficient LED lighting, and water fittings.
Alistair Wardell, Investment Director within Gresham House’s Housing team commented: “It is vital that corporations consider the long-term sustainability implications for delivering residential housing. This is particularly the case for the affordable housing sector, where more acute financial constraints generally preclude investment into greener living and technology. We are proud to be working in partnership with ilke Homes to deliver Hope Green, as the first of several pioneering residential developments in the pipeline for the partnership, which is seeking to break the mould while working towards a greener future. With most houses being upgraded to operational zero carbon, our investment at Hope Green is helping to create a genuinely affordable development for future homeowners alleviating fuel poverty issues whilst protecting the environment.
“Gresham House’s aim to invest in better placemaking through sustainable innovation is supported by the ilke Homes’ fully modular construction method. The homes are built in a factory setting, which allows for greater build efficiencies with significantly less waste and reduced carbon emissions during the construction process. The speed of delivery to site, provides enhanced returns from the development and means the model can deliver much-needed housing at a rate closer to market demand.”
Kush Rawal, Director of Residential Investment at SO Resi, added: “It is crucial that companies take sustainability seriously, but often greener living comes at a cost and is unattainable for the affordable housing sector. We are proud to be working in partnership with Gresham House’s Housing team and ilke Homes to deliver a truly unique development as we work towards a greener future. With the majority of houses being zero carbon, SO Resi Hope Green is helping to create a genuinely sustainable development for future homeowners at an affordable cost.”
Matthew Suggitt, Development Director (South East) at ilke Homes, commented: “This is the first land-led, package deal site that ilke Homes are delivering in the South-East market and we are proud to be delivering it as one of the first and largest operational net zero carbon developments in the UK. Sustainability is paramount to ilke Homes and to the collaborative partnership flourishing between ilke Homes and GH ReSI LP. These new affordable homes are testament to that ethos and our ambition to deliver net zero development at significant scale. Production of the modules will commence at our factory facility early in 2022 with first installs on site in spring 2022.”
Hope Green will deliver a total of 153 new homes, comprising 138 two-, three- and four-bedroom houses and 15 two-bedroom apartments. The development will see the first completions in the spring 2022. All homes at the development will be exclusively sold under shared ownership, supporting the government’s key drive for more affordable home ownership.
Once complete, Hope Green will include a significant amount of green open space replete with play areas, nature trails, attractive water features, a number of biodiversity areas to encourage local wildlife, and a network of footpaths and cycleways providing commutable connectivity into the town.
