Pension Insurance Corporation (PIC), Muse, and Homes England have formed a new joint venture named HABIKO, with an investment of £54 million aimed at developing 3,000 affordable homes for rent in England.
This public-private partnership focuses on delivering low carbon and low energy housing solutions in response to the UK’s growing need for affordable accommodation.
HABIKO is designed to be self-funding over its 12-year lifespan and will provide housing at rents set 20% below local market rates.
The initiative targets individuals and families whose housing needs are not adequately addressed by existing market offerings.
The homes will be built in areas of high demand, ensuring they are accessible to local employment opportunities and designed to help residents save on energy costs.
