Investors have pledged half of the £1 million that Grand Designs presenter Kevin McCloud’s housing company is aiming to raise
Founded by Kevin McCloud in 2007 Hab Housing is seeking to crowdsource between £1 - £1.5 million as part of a drive to boost custom-building in the UK.
Investors have been promised a dividend of no less than 5 per cent on their cash at the end of 2016 as well as a 5 per cent saving on any purchase of a Hab home - up to the level of investment.
So far the scheme has attracted 216 investors, including RIBA Journal editor Hugh Pearman, Urban Splash chairman, Tom Bloxham, and Glenn Howells, the architect of the Triangle in Swindon.
The developer has until August 24 to raise a minimum of £1 million through the crowdfunding website Crowdcube, otherwise all the money pledged will be returned.
Earlier this month Hab won approval for 108 new homes in Oxford designed by AHMM.
Crowdsource: McCloud’s Hab Housing half way to its £1m target