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NEWS IN BRIEF Social housing decarbonisation In March, housing provider Orbit welcomed representatives from BEIS to mark the start of retrofitting works at its site in Henley-in-Arden, Warwickshire. Orbit is working with Stratford-on-Avon District Council to upgrade 69 properties across the Stratford District as part of the Government’s Social Housing Decarbonisation Fund Demonstrator. Following the success of the initial Demonstrator phase, Orbit has secured a further £1.4m funding from BEIS as part of the SHDF Wave 1 funding. An additional 70 Orbit properties will be upgraded in partnership with the West Midlands Combined Authority, and the works in Stratford will be extended to a further 66 properties. Orbit is also investing £4.6m into the project to help better understand the scale of the challenge ahead and explore the impact of selected sustainable technologies in a retrofit application.
Sustainable by design report A new report, ‘Sustainable by design’, by engineering consultancy Patrick Parsons, based on research with 100 senior executives of UK construction firms, reveals that they are seeing significant commercial benefits from using sustainable design and engineering to build developments with lower carbon footprint. Two thirds (66%) said sustainable design is adding value to current developments and 83% said that projects designed with green credentials have given them a competitive advantage. Furthermore, 68% expect the value of developments with sustainable design to increase by between 10% and 20%, demonstrating the significant premium placed on sustainable construction. More details about the report here www.rdr.link/lac002
Housing association secures £137m of sustainable funding Wirral-based housing association Magenta Living has secured a £137m funding package from NatWest to build more than 1,000 new affordable homes over the next five years and commence its transition to being a carbon zero housing provider. The organisation, which currently owns almost 13,000 homes across the North West, will use the funds to achieve its ambitious growth plans. This includes carrying out maintenance work on its existing homes and growing its extensive portfolio to increase affordable housing levels across the region. Magenta Living is the largest housing association landlord in Wirral and one of the leading employers in the area with more than 600 employees. Its vision is to build vibrant homes, lives, and neighbourhoods across the region. The funding from NatWest will also enable Magenta Living to progress its Climate Change Strategy. This involves a 30-year commitment from the business to help tackle climate change through methods such as using electric vehicles, improving local green spaces, tackling fuel poverty, and improving the energy performance of its housing portfolio. Magenta Living will also look to retain its gold accreditation status from SHIFT environment, reflecting its sustainability credentials. The bank has attributed environmental, social and governance (ESG) goals to
£75m of the company’s loan facilities, helping the housing association to work towards the Government’s Zero Carbon Homes target by 2050. Ann Monk, Executive Director of finance at Magenta Living says: “Ultimately, we serve local communities in the North West region by building properties that create genuine social value, and this funding package from NatWest is helping us bring this vision to life. The bank’s backing is assisting us as we move towards our target of becoming a carbon zero organisation by 2050 with the creation of truly sustainable properties. This will allow us to continue growing and seizing new opportunities, as well as creating new jobs and encouraging investment into the areas we serve.” Marcos Navarro, Director and Sustainability Lead for Housing Finance at NatWest, adds: “It was rewarding to work on a deal that adds such genuine social and environmental value. This new funding package will not only allow Magenta Living to build sustainable and affordable homes, but it will support its transition to net zero and create local jobs, supporting economic recovery following the pandemic.”
