Housebuilder Hill and retirement specialist Hanover have signed a joint venture to develop a £25.7m ‘multi- generational’ scheme in north London.
Hill Hanover Newington Gate scheme in Newington Green
The pair will develop 72 homes at the Newington Gate scheme in Newington Green: 32 for first-time buyers, 28 for affordable renters over 55 and 12 for shared ownership. Some 56% of the scheme will be affordable. Newington Gate will also include 5,900 sq ft of retail space.
It is the third joint venture between Hill and Hanover, which also collaborated on Woodside Square in Muswell Hill and Quadra in London Fields. Work has already started on the site and is expected to be completed in summer 2020.
“Multi-generational living has numerous benefits for both younger and older residents and while it is growing in popularity across London, developers have a responsibility to encourage this where possible by providing suitable housing,” said Paul Jordan, regional director at Hill.