St. Modwen Homes has signed an £18.5m agreement with registered provider Sage Housing, to deliver affordable homes at its Heathy Wood development in West Sussex.
The dedicated housebuilding arm of developer St. Modwen will build 91 family homes at the scheme in the Crawley village of Copthorne over the next three years. The site will be taken to market and operated by Sage under affordable rent and shared ownership initiatives.
For Sage Housing, the deal forms part of its wider investment strategy, which has seen it commit to delivering 20,000 new homes across the country by 2022. Its interim chief executive officer Rod Cahill said: “We’re delighted to partner with St. Modwen Homes on the delivery of these much-needed homes in West Sussex.
“During this difficult period, Sage has continued to invest as we are determined to play a role in reviving the construction industry and providing the affordable homes that the UK desperately needs.”
Dave Smith, managing director of St Modwen Homes, said: “We are thrilled to be welcoming Sage to Heathy Wood. This deal is not just about us delivering on our affordable housing obligations, but to make sure that we are working with the right partners to improve access to housing.
“We want to give as many people as possible the opportunity to live in a St. Modwen home and we are doing so by collaborating with providers that share our values; Sage Housing is young, ambitious, customer-focused and committed to providing housing at a time when stock is in short supply.”