Earlier this month, Moda Living announced the launch of a new vertically integrated Built to Rent single family housing (SFH) brand across the UK – in a joint venture with Ares Management Corporation. Today, the company announces the new brand will be called Casa by Moda – which aims to address the nationwide housing shortage, providing much-needed high quality one to four bedroom family homes at an accessible price point for renters.
Initially, Casa will deliver 5,000 new family homes for rent in target suburban markets by 2025, which will have a combined value of £1bn. The neighbourhoods will be designed, developed and operated by Casa, which is part of leading Build to Rent brand Moda Living. The new proposition will be 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.
“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.”Rob Gill, Head of Acquisitions, Casa
Casa schemes will be pet friendly and residents will benefit from no deposits and security of tenure on long-term renewable leases for up to three years. Residents will have 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.
Casa aims to create social, integrated and safe neighbourhoods. Organised resident events such as community barbeques, food and drink pop ups and mental health workshops will allow people to mix with their neighbours, and community-led groups will bring like-minded people together. From running clubs or book clubs to baking and board game groups, Casa’s teams and technology will enable residents to access and engage with the community around them.
“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.”Lydia Eustace, Marketing Director and Head of Wellbeing, Casa
Technology will also enable Casa homes to give a strong environmental performance – through its partnership with Utopi. All new homes will be fitted with environment sensors monitoring 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.
In a UK first for the UK SFH sector, Casa by Moda will achieve true vertical integration. Moda’s parent company, Caddick Group, are delivering the platform as well as co-investing alongside leading global institutional capital. The platform will be managed by the single-family housing division of Moda Living.
The new proposition will deliver much needed and price accessible housing across the UK, defined by Moda’s operational foundations of a digitally enhanced lifestyle with best-in-class service and a focus on healthy social communities for a better living experience.
Casa has already secured sites with space for 1,000 new homes, and the brand will welcome its first residents in the second quarter of 2022.
With secured capital from a leading institutional investor behind it, Casa is actively looking for further sites across the UK, targeting areas in need of new housing with space for 50 homes or more.