Igloo secures £4.5m Riverside Sunderland funding
The finance facility from Paragon Bank will enable the delivery of 34 homes across two phases within the Vaux neighbourhood, further advancing plans to transform the former industrial site into a sustainable mixed-use community.
The residential scheme will comprise a mix of two- to four-bedroom townhouses, maisonettes and apartments, all designed using modern methods of construction and developed through igloo’s Footprint® approach, which focuses on environmental performance, community wellbeing, and placemaking.
The first phase will deliver 18 townhouses and maisonettes, while the second phase will add 16 apartments based on the Homes of 2030 design competition, showcasing adaptable, low-carbon housing designed for future urban living.
All homes will be highly energy efficient, adaptable and accessible, while aiming to minimise both embodied and operational carbon. The development also seeks to encourage community interaction through its design and use of public realm.
Riverside Sunderland is being delivered through a partnership between igloo, Sunderland City Council, and the Housing Growth Partnership.
The wider regeneration programme will create three connected neighbourhoods featuring new homes, commercial space, leisure facilities, and extensive public green space as part of Sunderland’s long-term city-centre transformation.
Pete Conboy, project director at igloo, said:“This is a landmark residential development within the ambitious Riverside Sunderland masterplan, transforming the former Vaux Brewery site into a vibrant, future‑ready urban community.
“With Paragon and HGP’s support, igloo is delivering 34 new and much-needed city centre homes, arranged across two carefully planned phases, each designed to create a new benchmark for sustainable and contemporary urban living.”
Mike Murphy, Investment Director at HGP, commented:“Riverside Sunderland is the third investment through our Strategic Partnership with PFP-igloo, which is targeting the delivery of over 1,200 highly sustainable, eco-friendly homes across the UK’s regional cities.
“This development will create a real sense of place within Sunderland with striking designs and deliver much needed high sustainable homes within the city centre.”
Toby Burgess, relationship director at Paragon Development Finance, said: “This is a well‑considered scheme with strong sustainability credentials, delivered by a developer with a proven track record in complex urban regeneration.
“The structure of the facility has been tailored to support the phased delivery of the homes, and we look forward to continuing our relationship with the igloo team as the development progresses.”
