The fund will allow property developer Citu to speed up the delivery of the scheme after it received increased demand from new home buyers.
The site will consist of Scandinavian-inspired timber framed houses and apartments which claim to require 90 per cent less energy to heat than a typical new-build. The properties have triple glazing windows and mechanical ventilation with heat recovery (MVHR) systems, which is the use of recycled air to ventilate a home.
The properties will also collect rainwater to be reused and have photovoltaic panels to generate solar power and supply the development’s electricity.
Together has invested a total of £25m into Citu’s projects over a 14-year period.
Chris Baguley, managing director at Together, said: “Our latest land finance deal will support Citu’s admirable ambitions to tackle climate change by creating one of the UK’s biggest sustainable urban developments.
“The first phase of the low-carbon and community-focused Climate Innovation District on the north bank of the River Aire in Leeds is now well underway, and we’re delighted that our finance is helping unlock more disused industrial space on the south bank to extend this thriving community.”
Baguley added: “The relationship we have with Citu over many years is something that is really important to us. They are a key partner of the Together business and their success is something that we are proud to be a part of.”
Chris Thompson, managing director at Citu, said: “We are delighted to be continuing our collaboration with Together, whose support has been instrumental in helping to realise our business growth over the last 14 years.”