Apache’s single-family arm lined up for £160m Eddington scheme
The development is part of a wider 370-acre masterplan
The University of Cambridge has appointed Apache Capital-owned Present Made to deliver 370 purpose-built single-family rental homes at Eddington.
The £160m development, which forms part of the 1370-acre Eddington masterplan, is expected to help address the local housing shortage.
The scheme, designed by Jo Cowen Architects, is understood to be the first of its kind in the UK as it includes precision-engineered smart homes designed and built exclusively for rent. The homes are expected to achieve net-zero carbon emissions using smart technology and modern construction methods.
Plans for the broader Eddington mixed-use development include 3,000 homes, 2,000 student beds and 1m sq ft of new academic and commercial research space as well as space for senior living, retail shops, health facilities and other amenities.
Eddington is one of the sites within Present Made’s initial £1.6bn development pipeline, which targets the delivery of more than 3,000 smart homes across the south of England. The company, which is Apache Capital’s second build-to-rent platform in the UK after its £2bn multifamily joint venture with Moda Living, has three other sites in the Oxford-Cambridge Arc. Further announcements on these sites are expected later this year.
Richard Jackson, co-founder of Apache Capital and CEO at Present Made, said: “Harnessing the power of institutional capital, Present Made will own, develop and operate beautiful, sustainable homes for the long term. Our aim is to create a new way of living, providing aspirational yet attainable housing set within living streets and active communities that are integrated with their surroundings. Our vision is to encourage healthy and sustainable lifestyles, making them second nature to our residents.”