{"id":17967,"date":"2019-06-27T15:52:43","date_gmt":"2019-06-27T15:52:43","guid":{"rendered":"https:\/\/www.englishforums.com\/news\/?p=17967"},"modified":"2019-06-27T15:52:43","modified_gmt":"2019-06-27T15:52:43","slug":"oxford-university-partners-with-lg-to-build-housing-facilities-for-4-billion","status":"publish","type":"post","link":"https:\/\/www.englishforward.com\/news\/oxford-university-partners-with-lg-to-build-housing-facilities-for-4-billion\/","title":{"rendered":"Oxford University Partners with L&#038;G to Build Housing Facilities for \u00a34 Billion"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Legal and General(L&amp;G), the funding and development partner for Oxford University had entered into a fifty-fifty partnership to build residences for students and staff. The value of this partnership is four billion pounds and L&amp;G\u2019s Future Cities Business will provide the fund.<\/span><br \/>\n<span style=\"font-weight: 400\">In addition to residential properties, this project will also develop \u201cinnovation districts\u201d with contemporary workspaces. The timeline for executing the project is ten years.<\/span><br \/>\n<span style=\"font-weight: 400\">As with any fast developing cities, Oxfordshire has been facing the problems of rapid urban growth. The town which is renowned for its University has a population of more than one hundred and fifty thousand people. Being one of the world\u2019s leading technology clusters, it is imperative that the city provides affordable housing facilities to attract young research talent.<\/span><br \/>\n<a href=\"https:\/\/www.legalandgeneralgroup.com\/media-centre\/press-releases\/legal-general-commits-4-billion-to-oxford-university-partnership-creating-a-blueprint-for-future-cities\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">While announcing the partnership, Professor Lousie Richardson, Vice- Chancellor of the University said,<\/span><\/a><br \/>\n<em><span style=\"font-weight: 400\">\u201cMy colleagues and I are delighted to have formed this partnership with Legal &amp; General. We look forward to working together to address some of the most pressing challenges facing the University today. We will build much-needed graduate accommodation, subsidized housing for University staff, and new science parks, where academic departments, University spin-outs, and commercial partners can work together to create new companies as well as high-quality jobs.\u201d<\/span><\/em><br \/>\n<span style=\"font-weight: 400\">The homes for junior academic staff will be built near the village of Begbroke. The rents will be twenty percent lower than the market rate.\u00a0<\/span><br \/>\n<span style=\"font-weight: 400\">The second housing project which will come up near Osney Mead industrial estate will be for the student body with rents ranging from four hundred and fifty pounds a month to Six hundred and seventy-five pounds.\u00a0<\/span><br \/>\n<span style=\"font-weight: 400\">The ownership of the land will remain with the University. They will issue sixty year leases to L&amp;G who will recuperate the investment from rent and later hand over the property to University.<\/span><br \/>\n&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Legal and General(L&amp;G), the funding and development partner for Oxford University had entered into a fifty-fifty partnership to build residences for students and staff. The value of this partnership is four billion pounds and L&amp;G\u2019s Future Cities Business will provide the fund. In addition to residential properties, this project will also develop \u201cinnovation districts\u201d with [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":17968,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[34,26],"tags":[711,762,857,1062,1339],"_links":{"self":[{"href":"https:\/\/www.englishforward.com\/news\/wp-json\/wp\/v2\/posts\/17967"}],"collection":[{"href":"https:\/\/www.englishforward.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.englishforward.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.englishforward.com\/news\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.englishforward.com\/news\/wp-json\/wp\/v2\/comments?post=17967"}],"version-history":[{"count":0,"href":"https:\/\/www.englishforward.com\/news\/wp-json\/wp\/v2\/posts\/17967\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.englishforward.com\/news\/wp-json\/wp\/v2\/media\/17968"}],"wp:attachment":[{"href":"https:\/\/www.englishforward.com\/news\/wp-json\/wp\/v2\/media?parent=17967"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.englishforward.com\/news\/wp-json\/wp\/v2\/categories?post=17967"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.englishforward.com\/news\/wp-json\/wp\/v2\/tags?post=17967"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}