About

Why?

Key workers are arguably the hardest working taxpayers in society and have limited access to reasonably priced housing in the cities they serve. Before we support any other group of people, we must support them.

With the rising cost of housing in London, many key workers are unable to live near their place of work, enduring soul destroying commutes of up to 60 miles, or 3 hours a day every working day.

The Key is a collective of accomplished real estate professionals who joined forces in 2018 to find a solution to the key worker housing crisis. Our business strongly adheres to Environmental, Social & Governance (ESG) principles to address and reverse the counterintuitive outward migration of key workers from our cities.

The Key’s innovative new key worker housing model has been designed to sustainably embed a new layer of affordable housing in our cities for future generations. The aim is to change a mindset, put a higher social value on key workers and reverse the exodus from these professions.

How?

By building affordable homes for key workers within a mile of their place of work and at rents set at one-third of their net income.

The Key, working in partnership with Phoenix Group, have created a new ground-breaking build-to-rent model that will provide truly affordable housing exclusively for key workers. By leveraging direct institutional capital, this initiative aims to deliver 100% affordable housing, which will be held in perpetuity for key workers.

This will support the recruitment and retention of key workers critical to delivering our public services. By increasing much needed rented housing, located in the right locations, will lead to significant reductions in commute times for those who cannot currently afford to live close to where they work.

What?

The Key will fund developers to build and deliver homes to be provided exclusively for key workers, with bespoke rental agreements.

Delivering 100% affordable housing, the funding model enables The Key to buy blocks of 100-plus units and set key worker rents at the Affordable Housing Commission's target of one-third of net household salary, substantially reducing normal monthly rental payments and shrinking commutes to under a mile. The Key will provide security and peace of mind for key workers struggling to find suitable and affordable housing within the communities they serve.

With key worker rents significantly reduced and commuting costs eliminated, they can commute via a bike ride or short walk of no more than 20 minutes, reducing stress and increasing the time available for personal and family activities.

The Key’s beautifully designed, carbon-efficient buildings, with 24-hour concierge service and food halls, will create go-to hubs. The Key’s genuinely affordable homes will bring key workers within a mile of their workplace. Not only will The Key build communities for their residents, but the savings they receive on rent will be spent in the local communities, creating thriving neighbourhoods and enhancing Social Value creation.

Concierge
And Maintenance

The on site office will be staffed by trained professionals, available to assist tenants with any issues or concerns they may have. They will be responsible for managing and coordinating all concierge and maintenance work.

The concierge team will be responsible for managing the front desk, helping tenants and ensuring the overall security of the building. They will be able to handle package deliveries and manage access to the building for visitors and contractors.

There will be no need for tenants to wait in for services or deliveries, nor will they need to take time off work to allow access to carry out repairs.

The maintenance team will be responsible for addressing any issues or faults that may arise in the building.

Community

The Key’s principal goal is to provide affordable housing for key workers and give them the opportunity to live within locations of their choice, rather than being limited by affordability.

The creation of a dedicated App for each development will provide a social networking group for all residents, allowing families and individuals from different working environments, cultures and backgrounds to foster a sense of community and inclusivity.

Community Interest Companies (CIC) will allow residents to manage common areas and raise and reinvest profits back into the community. This will include personalising common areas, organising events and supporting local businesses and organisations.

A Residents' Association (RA) will allow any disputes to be dealt with internally, creating a sense of communal ownership and responsibility. The Association will also act as a liaison between tenants and management, addressing any concerns or issues that may arise.

The combination of the CIC and RA initiatives will work together to create a diverse and inclusive community where residents can live, work and thrive.

In larger developments, a food hall on the ground floor can serve as a central gathering place for the community and a destination for local food and produce. The inclusion of pop‐up food stalls and markets featuring local produce can further promote the development as a destination for high‐quality food and support local producers and vendors.

Having eco‐friendly products that are palm‐oil friendly and diverting end‐of‐life food to local charities can help to promote sustainable practices within the developments.

Additionally, coffee shops, play areas and a creche can help to create a sense of community and provide amenities for families and individuals of all ages. Youth Clubs can also be run by residents.

Commercial space may also be utilised for family support, therapy, health and other wellbeing activities.