Our Real Estate and Corporate teams have advised Muse Places Limited on its significant long-term public-private partnership, named Habiko, which targets the delivery of 3,000 low-carbon, low-energy affordable homes for the rental market.

The Habiko partnership between Pension Insurance Corporation (PIC), Muse and Homes England will provide for the development of affordable housing by the parties, with PIC having the ability to forward fund and ultimately own the homes and places it has helped to create through its investment and long-term stewardship approach.

The homes will be built across England in areas of high demand for this type of housing. The developments aim to create social value for these communities, including boosting the local economy through job creation and new skills to drive green innovation. The homes will be in accessible locations, close to employment opportunities and be designed to help residents save money on their energy bills.

Phil Mayall, Managing Director at Muse said: “Habiko is a public-private partnership which will deliver thousands of affordable, low-carbon, low-energy homes in the communities which need them most. Working together with PIC and Homes England, we can bring together our diverse and complimentary skills to drive forward delivery.

“We have been supported at every step by the expertise of our advisory partners, including Gowling WLG, and we look forward to continued collaboration as Habiko moves forward.”

Gowling WLG's advisory team was led by Partners, Richard Beckingsale and Sharon Ayres, with support from Principal Associate, Jimmy Wheeler, and Senior Associate, Owen Shave.

Richard Beckingsale, Partner and Co-Head of Real Estate Sector at Gowling WLG, commented: "This is another significant deal which has utilised expertise across the firm. This is an exciting public-private partnership to develop affordable low carbon housing in areas of high demand across England and we look forward to seeing these developments come forward, providing affordable and energy efficient housing for those areas."

Gowling WLG has dedicated development and regeneration teams in the UK and acts for a wide range of developers, funders and local authorities. For further information, please visit Gowling WLG's Real Estate page.