Habiko, the affordable homes partnership between Pension Insurance Corporation (PIC) and Homes England, has announced plans for its first two development sites — in Chester and Warrington — which together will deliver around 590 new affordable homes for rent.
The projects mark the first step towards Habiko’s wider ambition to develop 3,000 low carbon, low energy affordable homes across England over the next 12 years, representing around £1bn in completed value.
In Chester, Habiko has identified a site at Charterhall Drive, adjacent to the city’s train station. Working with architect shedkm, the partnership is developing design options for approximately 350 homes, with a planning submission expected later this year. The scheme forms part of the 15-year strategy for the economic regeneration of Chester and its historic town centre, with Habiko engaging the local community as plans evolve.
In Warrington, Habiko has identified a site near the Times Square district in the town centre. Designed in collaboration with AHR Architects, the scheme is expected to deliver around 240 homes close to public transport links and key amenities.
Both sites have been chosen as strategic locations for growth, offering residents access to well-connected, sustainable communities. Habiko has set a minimum target of 75% affordable homes for rent across its developments, with the potential to reach 100% depending on local housing needs. Discounted Market Rents will be offered at least 20% below local market rates to improve access to quality, energy-efficient homes.
PIC will forward fund the homes brought forward under the joint venture. Habiko stated that it will continue to engage with local authorities and stakeholders throughout the development process to ensure the delivery of sustainable, low-carbon homes that meet community needs.
Lisa Gledhill, Managing Director – National Partnerships at Muse, said: “Habiko promises to deliver affordable homes for those who need it most.
“Chester and Warrington are great places to kickstart Habiko’s build programme.
“We look forward to working with PIC, Homes England and the local communities to deliver greener and healthier places to live.”
Hayley Rees, Managing Director of PIC Capital, added: “Following a successful launch of Habiko, announcing these first two projects emphasises the focus on our purpose: to deliver low carbon, low energy affordable homes for rent at pace.
“This exemplifies the power of public-private partnerships to help meet the UK’s affordable housing needs through innovative collaboration.”
