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Cambridge Investment Partnership (CIP)

Cambridge Investment Partnership is an equally owned partnership between Hill and Cambridge City Council, in a bid to tackle the affordable housing shortage across the City. The partnership has placed its focus on tackling Cambridge’s affordable housing shortage, whilst optimising value for the Council and maintaining excellence in design and placemaking.

Together, the partnership works to fund the developments of council-owned land, as well as buying land, to provide a range of market and affordable housing, with commercial and community uses being considered on a site by site basis.

Ironworks, one of the flagship Cambridge Investment Partnership developments provides a range of studios, one and two bedroom apartments and two, three and four bedroom houses to the Mill Road area of Cambridge – 50% of which will be affordable.


As part of the £70m Cambridgeshire and Peterborough devolution grant, CIP is due to deliver at least 500 rented homes, and has exceeded the delivery timescale target, with the funding committed a clear two years early.

The developments under construction, or with planning consent, will deliver 480 affordable homes and 295 private sale homes. This is an excellent demonstration of the pace of delivery working with an experienced development partner.

In order to exceed the council’s delivery targets, and against strong market competition, CIP has acquired a new site from a private landowner to deliver a mixed tenure development of 295 homes in the city centre. The track record and strength of the Investment Partnership was a key factor in our selection. Construction activity was impressive in 2019 and Hill, on behalf of CIP, worked on 15 developments across Cambridge demonstrating our flexibility and our ability to utilise and empower our loyal local supply chain. Our construction team supports the council’s local housing lettings team to ensure completed homes can be occupied immediately.

As well as new affordable housing, CIP has also supported the council with commercial development on other sites. The investment team explored a number of options to deliver a new underground car park, with a hotel above, to generate much needed income. The new income created will be used towards delivering additional affordable homes in the city as well as supporting the delivery of other council services. CIP is now focused on a new pipeline of opportunities. It recently acquired a site to the north of the city for 66 new homes and is also tackling the regeneration of a number of existing council assets.


 

“This equal partnership has allowed us to build brand
new council rented and private sale homes on council
owned land across the city at an increased pace.”

RICHARD JOHNSON – Executive Councillor for Housing for Cambridge City Council and CIP Board Member

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