As more and more people are priced out of living in London, the YMCA may have found a solution for people who can’t afford to buy or rent in the capital.
The Y:Cube is a modular apartment built for 2 people to share – it has a living/kitchen area, bedroom, and bathroom, all packed into 286 square feet which can be moved quickly and easily to wherever they’re needed. Pods are just taken to site fully-furnished and can be stacked to create apartment blocks, or left as individual units.
The units are mainly made from renewable timber and achieve a Code Six for Sustainable Homes. The eco-efficiency means that they’re extremely well insulated and don’t require much energy to stay warm, which means that tenants would save money on rent and on energy.
Rents are currently set at 65% below market rate to provide truly affordable housing for young people looking to start their careers in London. The units cost £30,000 to build and are being let for around £140 per week. While accommodation can be found at similar rates, these can be placed more centrally and are built extremely well so that tenants don’t suffer from common problems such as damp.
Tags: housing market, London
This post was written by innermedia