Moda prepares to launch family home development in Yorkshire
Moda’s new home rental brand, Casa which is a joint venture with Ares Real Estate Group announced earlier this month, is aiming to change the way people live in the UK and starting in Yorkshire.
The new brand which is looking to address the nationwide housing shortage by providing much-needed quality 1-4 bed family homes at an accessible price point for renters, is also looking to disrupt the market.
Casa will deliver an initial 5,000 new family homes for rent in target suburban markets by 2025, which will have a combined value of £1bn. Some 200 Casa homes are already planned in the Yorkshire region, with the first set to start on site in Dean Beck, Bradford, next April and the first residents to move in before the end of 2022.
The neighbourhoods will be designed, developed and operated by Casa, which is part of Harrogate-based build-to-rent brand Moda Living and designed around Moda’s core principals of leading technology, strong ESG credentials and a focus on delivering outstanding health, wellbeing and service to its residents.
Unlike the traditional rental market, Casa residents won’t need to pay deposits and pets are more than welcome, while offering true security of tenure on long-term renewable leases of up to three years. While the technology-first approach looks to give all residents access to an app that enables them to contact the virtual concierge and access on demand services from logging maintenance issues to booking a dog walker.
The brand is also looking to recreate the success of Moda’s city centre neighbourhoods by organising resident events such as community barbecues, food and drink pop ups and mental health workshops designed to allow people to mix with their neighbours. In addition, community-led groups from running clubs or book cubs to baking and board game groups look to bring people together as a community.
The use of technology will also be extended into the home with Casa’s units aiming to have a strong environmental performance, through its partnership with Utopi. All new homes will be fitted with environment sensors that will monitor the performance of the buildings, measuring everything from room temperature to air quality and light pollution. The technology serves the dual purpose of making sure homes are at the optimum living conditions for residents, and ensuring the building is performing as efficiently as possible.
Moda’s parent company, Yorkshire-based Caddick Group, is responsible for the construction and delivery of the homes, as well as co-investing alongside leading global institutional capital.
Having secured capital from Ares, Casa is actively looking for sites across the UK, targeting areas in need of new housing with space for between 50 and 250 homes.
Rob Gill, head of acquisitions at Casa by Moda, said: “Casa by Moda has been years in the making, and we are thrilled to be able to share this terrific new venture with the public. Work is already underway at a number of sites so we can start delivering new homes as soon as next year.
“Our Casa locations are well connected, close to good schools, leisure and retail, as well as being just 40 minutes from key cities across the UK. Because we’re backed by a leading investor we are able to quickly progress new site opportunities with the aim of growing the Casa brand cross the UK.”
Lydia Eustace, marketing director and head of wellbeing at Moda Family Homes, said: “Casa by Moda will raise the bar for rental in the region, creating beautiful new family homes for rent. Our aim is to address the shortage of high-quality homes and improve the experience of residents let down by the current market.
“Changing the way people live for the better, all our residents will be offered on demand mental health services, access to wellbeing workshops and the opportunity to regularly connect with their neighbours. We know that 61% of renters feel lonely and that doesn’t need to be the case, by connecting our communities together and offering secure tenancies of up to three years, we’re able to create long-term, integrated neighbourhoods.”