YMCA Landmark Affordable Homes Development in Milton Keynes
We advised Milton Keynes YMCA on a major development of its landmark premises in the heart of Milton Keynes.
The existing site, which was built in the 1980s and is located in North Row in the centre of Milton Keynes, will be converted into two separate brand-new buildings: one with 264 private apartments, and another designed specifically for short term temporary and emergency accommodation for young and/or homeless people, which will be made up of 199 residential units.
In addition to the homes, there will also be shops, a café, meeting rooms, training rooms and a nursery as part of the redevelopment. Income from these retail outlets will be used to help fund the YMCA’s residential support programme.
As part of the deal the YMCA has transferred the existing site upon which the private residential apartments will be constructed. The Grand Union Housing Group facilitated a grant from Homes England of £4m for the development of the new YMCA premises.
In the three years working on this project, we advised on a wide range of complex issues that the development has had to overcome before being given the go-ahead. This included planning permission, highways, construction and development, which included a land swap. We also advised on Homes England requirements and three streams of funding – grant, development, and mainstream funding.
Our team was led by Joe Soul, Principal in our Real Estate team, who comments: “We are delighted to have worked on such a major development with the YMCA, with whom we have a longstanding and successful relationship.”
“This development will help transform the existing building into a modern and attractive building in the heart of Milton Keynes. We are really looking forward to seeing the final result which will have an enormous positive social impact in Milton Keynes.”
“This is the culmination of three years’ of hard work that spanned a number of different areas – from planning permission to grant funding. It is testament to our team’s expertise that we were able to assist the YMCA on such a varied and complex project.”
If you would like to find out more about this deal, please contact Joe Soul or you can give us a call on 0345 070 6000.