Ingenious Real Estate Finance LLP has agreed a £19 million loan facility and the announcement was made by Ingenious on completion of funding deal. The associations with property developer Citu will help utilize the fund.
The funding is to develop the next 120 units at the Climate Innovation District (CID) in Leeds. This will become the largest sustainable residential development in the UK. More than 800 family homes are to be built over a total of 4 phases.
The development will be made using Citu’s own off-site manufacturing facility, which uses an innovative timber-framed system designed in collaboration with Leeds Beckett University to reduce carbon emissions at every stage.
The housing will benefit from a range of green qualities, incorporating the latest in sustainable technology, including passive cooling, light wells and Mechanical Ventilation Heat Recovery (MVHR) systems which capture heat generated by appliances.
Also, transferring it from existing stale air to incoming fresh air will be made possible. With more than 90% of heat transferred, heating requirements are up to ten times lower than an average UK home.
The new homes will also achieve ten times the airtightness required by standard UK building regulations. This is to keep heat in the house, whilst the MVHR systems will maintain a flow of fresh air, delivering a healthy indoor air quality.
Residents will also benefit from a digitally enabled home, controlled via Google Nest. The site is located in Leeds’ South Bank, next to the River Aire, a short walk from the city centre. It is part of the Aire Valley Leeds Area Action Plan.