The Hill Group and Legal & General have formed a partnership to deliver 200 affordable homes in the first phase of Coventry’s £450m City Centre South regeneration scheme.
Under the deal, L&G will forward-fund the delivery of 145 homes for social rent and 55 for shared ownership, all of which will be developed by Hill Group across the first four buildings of the masterplan.
The partnership brings together Hill Group and L&G alongside Coventry City Council, the West Midlands Combined Authority, and Homes England.
The wider first phase of the scheme will deliver 991 homes, 86,000 sq ft of commercial space, and 183,000 sq ft of new public realm.
Andy Hill, chief executive at Hill Group, said: “We are delighted to be working with L&G for the first time on the delivery of affordable homes. Their commitment to high-quality, long-term investment in communities aligns closely with our own values. From the beginning, we set out to make City Centre South a new benchmark for inclusive regeneration, and this partnership ensures that the very first homes delivered will be genuinely affordable and visibly central to life at the new development.”
Ben Denton, chief executive at L&G’s affordable homes division, added: “We are dedicated to addressing the UK’s pressing housing crisis. We’re uniquely positioned to deploy significant institutional capital to deliver safe, secure, and affordable homes where they’re most needed, all while ensuring an excellent customer experience. Our involvement in City Centre South perfectly illustrates this commitment, and we’re proud to partner with The Hill Group and Coventry City Council on this vital regeneration project.”
Construction of phase one is set to begin later this year, with the first affordable homes expected to complete towards the end of 2027.
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