London real estate investor provides £19m to fund sustainable Leeds homes
A London real estate financer has today announced that it is providing a £19m loan to fund the creation of 120 sustainable homes in Leeds.
Ingenious Real Estate Finance has agreed a £19m loan facility with property developer Citu to fund the next phase of the UK’s largest sustainable development.
The funding will support the creation of the next 120 units at the Climate Innovation District (CID) in Leeds.
More than 800 family homes are set to be built in total over 4 phases at Leeds’ South Bank next to the River Aire.
Tom Brown, managing director of Real Estate at Ingenious, commented: “Ingenious is dedicated to supporting sustainable developments while maintaining our commitment to the objectives of our investors.
“We are pleased to be supporting Citu with the next phase of the CID development providing attractive homes for buyers looking for a quality, sustainable and energy-efficient place to live close to Leeds city centre.”
Jonathan Wilson at Citu, said: “This new relationship is an exciting marker in the evolution and expansion of our delivery business which will enable CITU to grow further and double our annual outputs through the future regeneration and delivery at the Climate Innovation District, Leeds.
“The importance of who we work with on these innovative and exciting projects is fundamental.
“The relationship we have developed with Ingenious is built upon a shared, long-term view of how we can work together on a more sustainable future whilst raising industry standards in both delivery and building performance.
“With many high street banks still investing heavily in fossil fuel projects it was, and is, hugely important we work with like-minded, ethical partners such as Ingenious.
“We are on a bold journey as a business and relationships like this only support the success and positive outcomes we require to disrupt the status quo.”
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