£18m loan secured to deliver city apartments complex
Specialist real estate finance provider Maslow Capital has completed an £18m development finance facility to support developer Citu.
The funding will facilitate an 87 home residential development, District Lofts, in the Climate Innovation District, Leeds.
The scheme will comprise a mix of one, two, and three-bedroom apartments, including seven affordable units.
It is part of a wider 955-home masterplan which aims to deliver a net-zero residential district supported by leisure facilities, a school and a care home.
Construction of District Lofts is now underway, with completion anticipated in summer 2025.
Sky Mapson, senior director, Origination, at Maslow Capital: said: “This partnership with Citu exemplifies our commitment to financing forward-thinking, high-quality developments that push the boundaries of sustainable living.
“The Climate Innovation District is a benchmark in urban regeneration, and we are proud to support a scheme that not only delivers much-needed housing but also integrates pioneering construction techniques to dramatically lower the built environment’s carbon footprint.
“We look forward to seeing this vision come to life and its positive impact on the future of UK residential development.”
Rachael Gordon, head of deal execution, UK and Europe, at Maslow Capital, said: “Developments like this demonstrate what is possible when sustainability and innovation are at the forefront of design.
“Citu’s focus on cutting-edge building technology, alongside their dedication to reducing emissions and enhancing energy efficiency, aligns closely with our ethos of supporting projects that leave a lasting positive legacy.”
Chris Thompson, founder of Citu, added: “We believe the homes we build should actively combat climate change, and this project embodies that belief.
“By integrating smart design with sustainable materials and construction methods, we are proving that urban living can be both aspirational and benefit the planet.
“With Maslow Capital’s support, we are realising our ambition of creating the most impactful places for our planet.”
