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Sign in Sign up for a FREE subscriptionHomes England provides $54m loan for Mayfield Village retirement homes
Homes England, the government’s housing agency, has provided a £40 million ($54 million) funding injection from its £4.5 billion ($6.1 billion) Home Building Fund to accelerate the construction of 255 mid-market retirement homes in Audley Group’s Mayfield Villages portfolio in Watford.
The project builds on Audley’s recently announced joint venture with BlackRock Real Assets. The properties in Audley Group’s first village will include extensive health, wellbeing, care and leisure facilities.
“First and foremost, this will enable hundreds of later life customers to enjoy high-quality, independent living accommodation for years to come,” said Peter Denton, CEO of Homes England. “The area will benefit from enhanced care provision and family homes will be freed up for the next generation.”
He added, “Our loan directly addresses market funding challenges due to the pandemic and highlights our commitment to ensuring diverse communities.”
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