Moda Living, a developer and operator of homes for rent across the UK, has welcomed plans to widen the "Northern Powerhouse" into a nationally focused agenda for boosting productivity outside of the south-east.
Theresa May has been widely reported as wanted to implement a “proper industrial strategy” rather than focus on any single city. Ensuring cities have the right civic leadership is crucial, according to the directors at Moda Living, which is developing a £1bn portfolio of homes built for rent with backing from Apache Capital.
The company’s first scheme is a 466-home tower in the heart of Manchester within the new NOMA neighbourhood. It will be followed by a major scheme on Liverpool’s waterfront and other developments across the UK.
Tony Brooks, co-managing director of Moda Living, said: “It is critical we consider growth across the North in an integrated and joined up way that encourages each city to have the drive, strategy and leadership necessary to attract major new employers and investment.
"As a company creating £1bn of homes for rent across the UK, we’re pinning our business on the economic futures of cities such as Liverpool, Birmingham and Leeds, as well as Manchester and London. We believe each of these cities - and others - has a fantastic outlook, with growing demand for high quality rented housing."
Johnny Caddick, co-managing director of Moda Living, said: "The growth and productivity of cities depends squarely on having the right skills for investment, together with a culture of openness that those willing to invest can be rewarded for the risks they take. Politicians often fail to understand that in a globalised economy, finance looking to invest in housing, roads, energy or financial services can literally go anywhere.
"We need to make the case for investment in our regional cities rather than other countries."
Brooks added: "A cast iron commitment to improving transport links is crucial, as is a planning system that supports housing without which employers will not attract talent. We must do far more to integrate our communities and cross-pollinate opportunities between academia and the private and public sectors."