Salix taps NatWest for Greenhaus funding
The bank has agreed to fund the 96-home affordable scheme on Chapel Street.
English Cities Fund is delivering Greenhaus on behalf of Salix Homes as the site falls within the consortium’s £1bn Salford Central masterplan.
NatWest will fund Greenhaus, with contractor Eric Wright Construction due to begin building the apartment project in the coming weeks. The value of NatWest’s investment was not disclosed.
The scheme is billed as “one of the first and largest Passivhaus-certified apartment schemes ever delivered in the UK”.
Greenhaus was designed by Buttress Architects with Planit-IE advising on landscape.
Of the 96 homes, 44 will have one bedroom and 52 will have two bedrooms.
A total of 74 apartments will be available through rent-to-buy, 13 for affordable rent and the remaining 11 for social rent.
Rent to buy is available to households with a combined income of less than £60,000 that cannot afford to buy a house on the open market.
Marcos Navarro, director of housing finance and sustainability lead at NatWest, said: “The Greenhaus development is an innovative housing project that has strong eco-credentials.
“We are committed to supporting projects that offer green solutions, and we will continue to work with Salix Homes and other partners on future projects that will positively benefit our communities as well as our planet.”
Greenhaus will take the overall percentage of affordable homes delivered by ECF at Salford Central to 25%.
Maggie Grogan, development director at ECF added: “As a national development partnership, we’ve got an opportunity and responsibility to be at the cutting edge of sustainable development and do our bit to tackle the climate crisis.
“So, to be able to deliver affordable and sustainable homes in partnership with a leading registered provider in the heart of Salford is a proud moment for us all.”
Sue Sutton, chief executive at Salix Homes, said: “Salix Homes is committed to building more desperately needed new and affordable homes and this deal with our funders will enable us to bring those ambitions to life at Greenhaus.
“We have a strong track record in delivering the right type of housing in the right places, and with our foundations firmly rooted in Salford, we’re perfectly placed to deliver this ambitious and sustainable new development in partnership with ECF, which marks the next step in the regeneration of this historic part of the city.”
Salix Homes has also secured grants from Homes England and Greater Manchester Combined Authority to help fund the development.