UK: Local firms Lacuna Developments and Graham have joined Watkin Jones to commence work on the first BTR scheme in Northern Ireland.
The Loft Lines development in Belfast’s Titanic Quarter feature 627 BTR homes and 151 affordable homes, forward funded by Legal & General.
The development will feature studios to three-bedroom apartments, and will include lounges, sports and recreational spaces, cinema rooms and children’s play areas. The development design also has a “resident first” approach; prioritising pedestrians and cyclists over the use of cars, supporting the city’s aim to reduce its carbon footprint. Air source heat pumps provide sustainable heating.
Loft Lines is being built on Queens Island, a site that was previously part of the Harland Wolff shipbuilding company.
George Dyer, group investment director at Watkin Jones, said: “Watkin Jones has a strong track record of developing large regeneration sites and we are delighted to bring the first BTR scheme to the city of Belfast. Titanic Quarter is developing an area that is steeped in rich history, transforming this brownfield site into a thriving place to live and acting as a catalyst for wider regeneration. The development is being brought to fruition by a partnership approach between all stakeholders and funders and we are grateful for the genuine collaboration we have experienced with our partners. This event demonstrates the progress the teams are making for the city of Belfast.”
John Godfrey, director of levelling up at Legal & General, added: “It is widely accepted that greater investment in our regional towns and cities, particularly to deliver new homes, is needed. As our first scheme in Northern Ireland, this is an important and significant step. We strongly believe in the power of pensions capital and the role it plays in accelerating investment-led economic growth, and unlocking much-needed regeneration in all parts of the UK. We hope The Loft Lines scheme will do just that for the regeneration of the Titanic Quarter, the local economy, and broader community of Belfast; we’re delighted to mark the start of its journey.”
The scheme’s affordable homes element will be provided by Clanmil Housing. Group chief executive Carol McTaggart, said: “At Clanmil we provide homes for people to live well, and we are delighted to be part of The Loft Lines, bringing 81 new social rented homes to Titanic Quarter for people who need them. Northern Ireland is in the midst of a housing crisis with the highest waiting lists for over a decade. These new social homes, delivered with support from the Department of Communities and NIHE, will help address this growing need, whilst also supporting Northern Ireland’s construction industry and helping to boost our economy. We look forward to welcoming residents who will be able to enjoy all the benefits of city centre living within a vibrant new waterfront community.”
Belfast is the host city for IHM’s Recharge 2024 event in January. Click here for more information.
