St. Modwen Homes has signed an agreement worth £18.5 million with Registered Provider, Sage Housing, to deliver affordable homes at its Heathy Wood development in the Crawley village of Copthorne, West Sussex.
Delivered over the next three years, St. Modwen Homes will build 91 new family homes at the site which will be taken to market and operated by Sage under affordable rent and shared ownership initiatives. The agreement is the latest example of St. Modwen working with an alternative operator or provider to deliver much-needed UK homes across multiple tenures.
For Sage, the deal forms part of its wider investment strategy, which has seen it commit to delivering 20,000 new homes across the country by 2022. In May, the provider announced that it had agreed deals on £116 million worth of affordable homes despite the Coronavirus pandemic.