Plymouth Council had identified surplus council land which they wished to develop for housing to meet increasing demand. The council had strong sustainability ambitions and wanted to boost local employment so were looking for a particular response to deliver their requirements.
The proposal was to develop an Eco-Village of up to 91 residential units including affordable housing with on-site assembly units, employment spaces and large central village green. The proposal also incorporated a ‘green hub’ of renewable technology focused businesses that would be located in the commercial spaces provided by the development. The on-site housing-kit assembly facility would provide local employment opportunities and the high sustainable ambitions would be achieved by constructing extremely energy efficient houses built to unique design (achieving Code 6 ene1) which would also provide low energy bills to residents.
Cornerstone set up and managed a joint-venture SPV with ZEDprojects Limited (CornerstoneZED Plymouth Ltd) for delivering the project. Core services included providing the principle commercial input to the schemes development and overall project management through the scheme’s lifespan. Cornerstone led on the political stakeholder management, negotiation with interested contractor parties and funders including the Homes and Communities Agency (HCA) and the marketing and promotion of the scheme. Cornerstone brokered an Option Agreement for the land with Plymouth City Council and the eventual land deal between the Council and the contractor-developer purchaser of the SPV and the land.
CornerstoneZED Plymouth Ltd was sold to Zero C Holdings Ltd in January 2016 in a back to back deal with the purchase of the land from the Council via the SPV by Zero C. A start on site is envisioned for the construction of the Eco-Village in early 2016.