UK: Apache Capital’s single-family housing platform Present Made has acquired a second site in the Oxford-Cambridge Arc from Valorem Investment Partners.
Present Made has been appointed by the University of Cambridge to develop sustainable smart homes as part of its 150-hectare Eddington master-plan.
Under plans submitted to Cambridge City Council, Present Made will develop and operate around 370 rental homes – including the UK’s first family houses to be designed and built exclusively for rent – as part of a new neighbourhood that will “promote healthy and sustainable living”.
The £160 million scheme has been designed by Jo Cowen Architects, and is centred around four pillars – activated public realm, community creation, professional management, and talent retention.
Residents will benefit from a range of outdoor spaces that facilitate connectedness to nature and each other, wellbeing, walking, cycling and exercise as part of a design that prioritises people above cars.
A range of internal and external amenity spaces combined with a year-long calendar of communal events will encourage residents to meet and get to know their neighbours
Present Made will retain ownership and control of the completed development, with residents benefiting from an on-site management team that is readily available.
The company is targeting a net zero carbon operational model as part of a wider ESG-driven strategy.
The homes at Eddington will be highly energy efficient thanks to a combination of smart technology and modern methods of construction, with the houses precision engineered in a factory environment.
Eddington is the first site within Present Made’s initial £1.6 billion development pipeline, which will see more than 3,000 precision-engineered rental homes delivered across the south of England.
The company has a further three sites in the Oxford-Cambridge Arc in addition to Eddington, with further announcements expected later this year.
Richard Jackson, co-founder of Apache Capital and CEO at Present Made, said: “It is a privilege to be working alongside the University of Cambridge in delivering the UK’s first family homes to be specifically designed and built for rent. Present Made homes will sit in master-planned, landscape-led communities that have been designed around people not cars, to promote active, healthy and sustainable lifestyles.”
“Harnessing the power of institutional capital, Present Made will own, develop and operate beautiful, sustainable homes for the long term. Our aim is to create a new way of living, providing aspirational yet attainable housing set within living streets and active communities that are integrated with their surroundings. Our vision is to encourage healthy and sustainable lifestyles, making them second nature to our residents. Present Made will help the University and City attract and retain talent as part of a multi-tenure diversified intergenerational community to complement the exceptional placemaking and quality of mixed-use development already delivered by the University,” he added.
Brian Nearney, commercial director from the University of Cambridge, added: “Eddington sets the standard in sustainable living. Unprecedented in its ambition and scale, Eddington is part of the University’s plans to safeguard its future as a world-leading university by providing key workers, students and the wider community with a vibrant place to live. Present Made will take a unique role at Eddington with the delivery of highly sustainable family homes and their on-going community development work which complements the overall masterplan vision.”
Eddington is a mixed academic and urban community which will eventually include 3,000 homes; 2,000 student bed spaces; 100,000 square metres of new academic and commercial research space; senior living, a community centre, supermarket and shops, health facilities, a primary school and nursery, a hotel and extensive open space and landscaping.
