Crowdfunding success stories: Hab Housing
Grand Designs star Kevin McCloud’s sustainable housing project which made it into the crowdfunding record books…
Founded by Grand Designs star Kevin McCloud, environmentally-friendly architectural company Hab Housing set a new crowdfunding world record when it raised £1,904,540 through equity crowdfunding platform Crowdcube last September.
Established in 2007, Hab Housing seeks to address the UK’s housing shortage by building 1,000 sustainable properties each year from 2018.
Having set an original funding target of £1m, the housing project became one of Crowdcube’s most oversubscribed pitches with 648 investors backing the campaign in return for an equity share of 25.39%, as well as a package of benefits including preferential terms on a Hab custom built home.
The funding is set to go towards the development of the Hab houses, which are to be designed according to their environmental context to avoid what McCloud dubs ‘identikit Noddy houses’.
Discussing Hab Housing’s crowdfunding success, McCloud said:
“From day one, Hab has been fuelled by passion, commitment and vision, and although it has felt lonely at times we now feel vindicated and invigorated by the backing of the people who have thrown their encouragement and financial support behind us.”