Greyfriars House in Reading will be transformed into a co-living space. it will become 266 units, providing affordable housing.
Elder got the funding in four weeks and will change office space into 266 co-living units. This helps Elder’s development plans. The NHS trusts, including Royal Berkshire NHS trusts and Berkshire Healthcare, support this project and need affordable housing for workers.
Elder focuses on revitalizing buildings and talked with Reading Council to move the project forward. Discussions also involved other people.
Elder plans 266 rooms there with flexible leases for tenants, shared spaces, a rooftop garden, and a terrace. Mera is happy to support Elder’s plans because Greyfriars House will offer affordable housing, which is welcome to many. They’re proud to be involved.
Elder engaged with the community and spoke to key stakeholders, seeing big potential to add housing to Reading’s core. Young people are facing housing challenges, and workers need quality housing, making it very important to deliver housing solutions now in good locations.
Transforming Greyfriars House is key as Elder wants to use buildings well in locations with high housing demand. ARE Capital Advisors helped this project by working with Mera Investment to ensure funding was secured on time.
ARE Capital Advisors say they were delighted to help Elder get crucial funding, and Greyfriars House will be transformed now. This shows a smart approach of unlocking potential in underused buildings. Reading’s housing is in high demand.
Everyone wants to see this finished as it will add much needed housing and greatly benefit the region.