By David Cowans, Group Chief Executive, Places for People
At Places for People, we’ve been in the business of placemaking for decades. During that time we’ve developed a huge wealth of expertise on what communities want to thrive – but we’re also always looking ahead, and thinking about what we need to do to make sure we can deliver on our mission in the future.
We know we need to be pioneering, and part of this is identifying and leveraging new opportunities in the industry. A crucial issue for us all is the work with other organisations to create better responses to regeneration challenges. Joint ventures and partnerships are crucial to make a greater difference. We took another step on that journey this month when we acquired the assets of the igloo Regeneration Partnership Fund, along with its joint venture holdings and ongoing property interests. Our fund management business, PfP Capital, will act as the investment manager with igloo Regeneration Ltd retaining its role as development manager.
We’re delighted to be working with igloo. They share our commitment to sustainable development and creating lasting, vibrant communities. Indeed, our deal with them marks the second phase of the fund, which launched in 2001 and was described by the United Nations as “the world’s first socially responsible property fund”. £300m has been invested to date in award-winning developments across the UK, including high-quality, eco-friendly and low-energy homes.
Our partnership will enable more exciting projects like this to become a reality, offering an even greater choice of quality homes to a wide range of customers. It means both parties can do more of what they want to do, making transformative projects a reality to the benefit of families and communities across the UK.
It will enable igloo to accelerate delivery of their pipeline of projects, including ongoing schemes such as Nottingham Waterside, Ouseburn Valley Newcastle, Ironworks Leeds and the next phase of Maryhill Locks, a collection of 33 sustainably built family homes in Glasgow, all benefitting from access to nearby riverside and parkland.
For us, this partnership is one more way we can deliver on our objective of making a difference to people’s lives through building good homes and inspirational places that work for people. It’s what underpins everything we do, from re-investing 100% of our profits into our work and communities, to delivering innovative funding models and constantly investing in, testing, scaling and going to market with new methods of construction.
I’m really looking forward to seeing what Places for People and igloo can achieve together. Our goal is to create places that work for everyone, now and in the future, and we’ll do everything we can to make sure we get there.