Legal & General Affordable Homes, as part of its £750m commitment to new affordable housing projects across the UK, has acquired a building at Edward Street Quarter containing 18 affordable rent and 15 shared ownership homes.
Edward Street Quarter is the £120 million redevelopment of the former AMEX House in Brighton city centre, which will deliver 110,000 sq ft of workspace for Brighton’s burgeoning creative and media sectors, including a significant coworking element, alongside 40,000 sq ft of leisure space and 168 new homes.
Designed by BuckleyGreyYeoman, the scheme is inspired by Brighton’s eclectic street scene and will also introduce a new high-quality public realm, with three new public spaces created by renowned landscape designers Spacehub. McLaren Construction started on site in late 2019 with a target of completion by Autumn 2021.
Legal & General is committed to leading the evolution of the affordable housing sector, raising standards and deploying long-term institutional capital to increase provision.
Ben Denton, Managing Director, Legal & General Affordable Homes, says: “There is an urgent need to innovate new ways to provide stable homes for the millions of households on waiting lists. Legal & General remains committed to deploying institutional capital at scale into this sector, to deliver the volumes of social housing which society desperately needs. We have made a great start in executing our development programme, which now stands at over 3,500 homes all across the country. As a major employer in Brighton, we are delighted to be working with First Base and Patron Capital to deliver more affordable homes in the local area.”
Steve Eccles, Project Director at First Base, commented: “We are committed to delivering a vibrant mix of workspace, homes and amenities, creating a new neighbourhood in Brighton’s city centre. We are delighted to be working with Legal & General Affordable Homes, with whom we have shared values and a commitment to provide a mix of affordable homes.”