UK: Developer and operator Moda Living has submitted a reserved matters planning application to City of York Council, for nearly 400 BTR units in the city.
The application follows the granting of outline approval for the whole site in 2020.
The plans include 392 homes in a mix of studio, one- two- and three-bed homes, along with amenity spaces including private dining rooms, 24/7 gym and fitness centre, a cinema room and a 24-hour concierge. Landscaped green space open to the public would also be created.
Leeds-based architects Fuse Studios designed the four- to six-storey buildings, which forms Zone B of the wider Heworth gasworks site.
Moda Living chief executive Johnny Caddick said: “As a Yorkshire-based family business, we are very excited to bring this new generation of rental living to York. We will have a long-term involvement in the neighbourhood and so it is crucial we develop and operate it to the highest standards. Our ethos is to put the needs of residents in everything we do and so we offer deposit- and fee—free living, encourage wellness in both physical and mental health and run a regular programme of events for residents, designed around their interests and demands, to build a community they love being a part of. Submitting the plans is a real landmark on our journey to bring this new lifestyle offering to York.”
Also in Yorkshire, Moda and its partners Apache Capital have secured a £96 million loan from LaSalle Investment Management for the development of the New York Square development, a £150 million 515-unit scheme in Leeds city centre.
The project is one of seven that sits in the multifamily housing platform created by Apache Capital with Harrison Street Real Estate and NFU Mutual.
John Dunkerley, co-founder and CEO at Apache Capital said: “With equity commitments from Harrison Street and NFU Mutual our multifamily housing platform remains the UK’s largest privately funded. We expect lenders to increase their exposure to BTR as a demographically and structurally supported asset class with defensive, counter-cyclical qualities.”
Caddick added: “Given the current political climate it is important that people share in the confidence we have in the UK BTR market. The regions provide a great opportunity for growth and we are continuing to expand our platform. LaSalle have been a fantastic partner to work with on multiple Moda projects and we are excited about future opportunities and our long-term working relationship with them.”
