A five-year joint venture partnership to deliver more than 1,000 highly sustainable, affordable modular homes has been announced by Legal & General Modular Homes (LGMH) and VIVID.
The tie-up will see LGMH and VIVID - one of the largest providers of affordable homes in the south of England, with approximately 72,000 customers and 33,000 homes - deliver up to 300 Net Zero (regulated) carbon homes per year, combining to address the energy and housing crisis. The aim is for the joint venture to deliver its first homes in 2023.
This latest announcement comes hot on the heels of the news that LGHM has been chosen by the City of Wolverhampton as preferred partner for the development of around 400 homes in the city.
LGHM believes modular construction is crucial in delivering government targets for housing and net zero, with this new venture supporting its ambitions to deliver several thousand homes a year as part of the industry drive to deliver 75,000 homes a year via MMC (modern methods of construction). It aims to achieve this by creating new skilled jobs and improving industry productivity in factories across the country.
Rosie Toogood, CEO of Legal & General Modular Homes, said: “We are delighted to be working with Vivid. Our partnership brings together two like-minded organisations with shared values and objectives to deliver much-needed high quality affordable homes that will make customers feel safe, comfortable, and enjoy where they live.”
Mark Perry, chief executive of VIVID, added: “I’m delighted that we have signed this joint venture with Legal and General. We are both committed to providing new homes to address the housing shortage and in particular for us where that helps meet our affordable housing ambitions. Their focus on building energy efficient and sustainable homes has to be right given the cost of living and energy crisis people are facing.”