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Blue Coast Capital and HUB plan 485 London coliving homes
The projects will add new shared living space alongside affordable housing in Southwark and Tower Hamlets, with design work moving through the Building Safety Regulator’s Gateway 2 process.
Blue Coast Capital is partnering with living specialist HUB to develop two central London coliving schemes totaling 485 homes, according to Bisnow. The first project is a 240-home development at St Olav’s Court in Southwark, and the second is a 245-home scheme planned for Fleet Street Hill in Tower Hamlets.
Bisnow reports the firms will create new shared living space alongside affordable housing as part of the developments. HUB will work with the design teams to take the projects through detailed design and the Building Safety Regulator’s Gateway 2 process before construction and operation.
The article notes that the UK has about 9,000 coliving beds in its development pipeline, citing an Investec report earlier this year. It also says the sector has stayed viable amid rising costs and stagnant asset values because coliving can densely pack beds onto sites.
Blue Coast Capital Chief Operating Officer John Stacey said London faces a shortage of high-quality, well-located homes, and that the two schemes reflect the living-led regeneration the firm wants to support, according to Bisnow.