The Greater Manchester Property Value Fund (GMPVF), part of the Greater Manchester Pension Fund, has agreed to underwrite the development of 43 modular homes, in an agreement with Urban Splash, at New Islington, Manchester, in the UK.

Nathan Cornish, director of Urban Splash, said: “The deal is a huge endorsement of our hoUSe concept which is now on site at New Islington. hoUSe is a modular housing scheme that we aim to roll out across the UK as one of the answers to the well-documented housing shortage that our industry needs to tackle.”

Designed by architect shemkd, the amount of backing by GMPVF has not been disclosed, but Splash has a revolving credit, so as each development is completed, they can draw more funding. At New Islington all the modular units have been claimed, reports placenorthwest.co.uk to MHProNews.

Splash has already been responsible for hundreds of homes, as well as a med center, school, park and marina. Two other developments for hoUSe are currently unfolding for 2016 in the Manchester area. ##

(Image credit:placenorthwest.co.uk/Urban Splash)

Article submitted by Matthew J. Silver to Daily Business News-MHProNews.