Government announces new funding to enable 8,500 new homes to be built

Property Wire | June 11, 2019

Some £142 million is to be spent on infrastructure in England to enable the building of thousands of new homes, the Government has announced. The money will be spent on widening bridges, building roads and connecting utilities so up to 8,500 properties can be built with £95 million going to Working and £47 million to Truro. Housing Minister Kit Malthouse said that the new funding is part of the drive to hit its target of building 300,000 new homes a year in England by the mid-2020s. ‘We are driving to create homes, opportunities and thriving communities. We need to keep upping our game and build more, better, faster, if we are to meet our ambition. The funding comes from the Government’s £5.5 billion Housing Infrastructure Fund so that land can be made ready for development,’ he said. Money is allocated to authorities after a competitive funding allocation process. In this round the funding will be used to widen the Victoria Arch Bridge, road improvements, buying land and connecting utilities so that 4,500 homes can be built in Working.

Spotlight

It’s no secret that the recent volatility in the REIT market has been driven by fears of an increase in the Fed Funds rate.Markets are concerned that a Fed tightening cycle may disrupt the economy and derail the real estate markets.

Spotlight

It’s no secret that the recent volatility in the REIT market has been driven by fears of an increase in the Fed Funds rate.Markets are concerned that a Fed tightening cycle may disrupt the economy and derail the real estate markets.

Related News

REAL ESTATE INVESTMENT

Thompson Thrift Residential to Develop Luxury Apartment Community outside Tampa

Altura Capital | February 24, 2022

Thompson Thrift Residential, a wholly-owned affiliate of Thompson Thrift and one of the nation's leading multifamily developers, announced that construction has begun on Palm Grove Luxury Apartment Homes, a 320-unit, luxury multifamily community in the Tampa suburb of Ellenton. Thompson Thrift plans to welcome new residents starting in the second quarter of 2023. The development is a joint venture with Altura Capital. There is strong demand for luxury rental communities in this area and significant market growth that make this a compelling investment opportunity, The community's centralized location ensures future residents have convenient access to Sarasota, Tampa and St. Petersburg as well as nearby retail, dining and recreational opportunities." Josh Purvis, managing partner for Thompson Thrift Residential. Located on the northeast corner of the U.S. Highway 301 and Interstate 75 interchange, the 27-acre site will offer two-story buildings with detached garages. A mix of one-, two-, and three-bedroom layouts averaging 1,100 square feet will provide an array of in-demand finishes including elegant quartz countertops, stainless steel appliances, tile backsplashes, large walk-in closets, hardwood-style flooring, full-size washers and dryers, and more. The luxury living experience will extend throughout the community with a clubhouse featuring stylish spaces for entertaining, 24-hour fully equipped fitness centers, resort-style heated swimming pools, community-wide WiFi, dog park, and more. Residents will also benefit from being located within walking distance to the Ellenton Premium Outlets, which is home to 116 shops and restaurants. This area has seen some of its fastest community growth in recent years, and employment growth is expected to outpace the national average for the next six years, For-sale home values have increased 14% over the past year, and so we are excited that residents will have a top-quality new rental option to choose from when Palm Grove opens its doors next year." Brian Southworth, senior vice president of acquisitions, partner. Palm Grove will be the eighth multifamily community Thompson Thrift Residential has developed in Florida. They are also underway with The Sophia, a built-for-rent community in nearby Venice. Since 2008, Thompson Thrift made a name for itself by being one of the few developers to build Class A residential communities in markets across the country with a variety of conventional, luxury leased villa and townhome-style communities. Throughout its history, the company has invested more than $3.15 billion and has become known as a trusted partner committed to developing high-quality, attractive communities. About Altura Capital Altura Capital is a real estate investment firm with offices in Arizona and Florida. The company focuses in opportunities that create value and maximize cash flow through ground-up development with best in class developers. The firm targets investments between $5-25 million of equity in a diverse group of residential and industrial projects. The location focus is primarily secondary markets with attractive fundamentals.

Read More

REAL ESTATE TECHNOLOGY

ImmoScout24 Partners with Branch to Power Mobile Growth via Web to App Journeys

ImmoScout24 | September 30, 2021

Branch the leading cross-platform solution for deep linking and attribution, has announced their continued relationship with ImmoScout24, the leading online marketplace for real estate in Germany and Austria. Branch will provide its web-to-app Journeys product to drive users from the mobile web to ImmoScout24's app, while also maintaining the context of users' mobile web points of origin. We are beyond excited to see what this next phase of our relationship brings, which will see ImmoScout24 continue to leverage Branch's web-to-app Journeys banners. We are investing heavily in the DACH region to expand our footprint and we are thrilled to have a client like ImmoScout24 using our Journeys product in so many creative ways - David Brown, Director of Customer Success, EMEA at Branch. Ensuring an engaging customer experience across channels and platforms can be difficult across a fragmented mobile ecosystem and important consumer data often gets lost in the process. Branch will help ImmoScout24 use their mobile website as a personalized app acquisition channel. Branch is a valuable partner when it comes to the growth and engagement of our mobile app user base and we are happy to continue our cooperation. - Patrick Gerstenecker, Director of Product Management at ImmoScout24. About ImmoScout24 ImmoScout24 is the leading online platform for residential and commercial real estate in Germany. For over 20 years, ImmoScout24 has been revolutionising the real estate market and supports over 20 million users each month on its online marketplace or in its app to find a new home or commercial space. That's why 99 percent of our target customer group knows ImmoScout24. With its digital solutions, the online marketplace coordinates and brings owners, realtors, tenants and buyers successfully together. ImmoScout24 is working towards the goal of digitising the process of real estate transactions and thereby making complex decisions easy. Since 2012, ImmoScout24 has also been active in the Austrian real estate market, reaching around 3 million users monthly. About Branch Branch provides the leading cross-platform linking and attribution platform, offering solutions that unify user experience and measurement across devices and channels. Branch powers mobile links and cross-platform measurement to more than 3 billion monthly users across the globe, and has been selected by over 75,000 apps since 2014 including Adobe, BuzzFeed, Yelp, and many more.

Read More

REAL ESTATE INVESTMENT

Swift Real Estate Partners Announces 1111 Broadway Acquisition

Swift Real Estate Partners | August 17, 2021

Swift Real Estate Partners ("Swift"), a San Francisco based real estate investment manager and operating company, announced today, the successful purchase of 1111 Broadway in Oakland, CA. 1111 Broadway is a "best-in-class" office building located in the heart of Oakland's dynamic CBD and situated directly atop the 12th Street BART station. The 24 story Class-A office building totaling 565,877 square feet features 24,000 square foot floor plates. Tenants also benefit from panoramic views, destination dispatch elevators, onsite parking, and a recently renovated lobby. The asset is 91% leased to a premier roster of diverse tenants. Swift was represented by Jack Machalow with Orrick. "We celebrated our eleventh anniversary in July and are continuing to grow and expand in our target West Coast markets. 1111 Broadway has been one of the best performing assets in Oakland since it was built and we're excited to add this marquee building to our expanding East Bay portfolio," said Christopher Peatross, President of Swift Real Estate Partners. Swift is currently investing on behalf of its third institutional value-add fund focused on West Coast office and industrial assets. About Swift Real Estate Partners Founded in 2010, Swift Real Estate Partners is headquartered in San Francisco, and has regional offices in Orange County, Portland, the San Francisco East Bay and the Silicon Valley. Swift is a vertically-integrated real estate investment firm which seeks to generate superior risk-adjusted returns for its partners. Swift acquires and repositions office and industrial assets in select West Coast markets, identifying unique opportunities and executing well-defined business plans while providing real-time, day-to-day oversight for each investment. Since inception, Swift has owned and operated real estate valued in excess of $4 billion across more than 10 million square feet. Swift is currently investing on behalf of its third institutional investment vehicle, Swift Fund III. Swift's professionals bring experience encompassing all aspects of real estate investment and management, including acquisition, financing, leasing, disposition, construction management, property management and marketing services.

Read More