New green development joint venture formed

Developer Development Securities has joined forces with two sustainable companies to develop housing and mixed-use projects. For the full announcement see below:

Development Securities PLC and Blue (Sustainable Living) Limited have today announced the formation of a new 50:50 Joint Venture to pursue sustainable residential and mixed-use development opportunities in the UK.

The joint venture’s purpose is to promote, define and develop high-quality, authentically sustainable places and communities. They will employ the expertise of Beyond Green, who are leading sustainability consultants with established strengths in place-making, project management, housing, sustainability infrastructure, behaviour change, communications and delivery planning.

Development Securities is one of the UK's leading property development and investment companies, specialising in large scale, mixed use, urban regeneration projects. In its own projects the company has emphasised the importance of sustainability.

Jointly the partners bring together a first-class, multi-disciplinary team of sustainability practitioners, financiers and project managers that will conceive, design and deliver diverse and sustainable neighbourhoods and mixed-use developments.

The relationship was brokered by Savills Corporate Finance.

The JV’s first project is already in development and it expects to submit a planning application later in 2008 for a new, sustainable and mixed-use neighbourhood of some 800 homes that will establish new standards for authentic sustainable development locally, regionally and nationally.

Jonathan Smales, founder and CEO of Blue (Sustainable Living) Limited, said: “Sustainability objectives are now enshrined as the central purpose of the planning system. Working with Development Securities, we intend to profitably demonstrate that, when given the choice, people want to live in better places and homes that are truly fit for the future and in real communities that respect environmental limits and improve quality of life.”

Matthew Weiner, Executive Director of Development Securities, said: “An important element of our strategy is to develop more sustainable residential and mixed-use projects in the UK and this new joint venture with Blue, will help us to achieve our objective far more quickly and effectively. We are very excited that the first project is secured and look forward with Blue to extending our expertise in the sustainability arena.”