A high street bank and a housing developer are to build 70,000 new homes that will tackle climate change and open up the housing market to cash-strapped first time buyers.
The Co-operative Bank and developer Living Space 21 are to join forces to build up to 70,000 new homes.
Prices will start at just £59,950 for a studio on stilts (excluding land), with the state-of-the-art properties featuring a range of ecological benefits including timber frames sourced from sustainable forests, rainwater capture facilities and sloped roofs to maximise solar efficiency.
The new homes are expected to meet targets set by the Government’s Housing Green Paper 2007, designed to deliver a 25% reduction in property CO2 emissions by 2010.
Research undertaken by the Co-operative Bank recently revealed that a 92% of potential first time buyers are prevented from getting onto the property ladder owing to rising house prices.
Paul Hemingway, Head of Campaign Delivery for the Co-operative Bank, said: “As helping to minimise the effects of climate change is a key objective at the Co-operative Bank, we are delighted to sponsor Living Space 21, which shares our organisation’s ethical ethos.”
“We are providing a modern housing option, which is not only affordable to all, but also causes minimal impact to the surrounding environment,” he added.
Ray Bedeman, Director of Living Space 21, echoed this sentiment adding: “When choosing a partner to come on board, the Co-operative Bank was a natural fit for us, as their strong ethical viewpoint, which is backed up by a range of competitive products ensures we can open up eco-housing to the widest possible range of buyers.”
Click here for Living Space 21 website
But where though? That is so smart! I mean, young ones can’t afford 127, 000 homes off the bat, but I mean, they can buy this and have a nice home too!
Comment by Summer Love — December 13, 2007 @ 3:14 pm