The development will be BoKlok's first in the UK since a previous project fell flat during the global financial crisis. The group, named Swedish for "live smart", has built more than 11,000 homes across Sweden, Finland and Norway.
The proposal for Worthing, which will undergo a stricter financial analysis in the coming months, describes an unusual model for affordable housing.
BoKlok wanted to build around 1
The rest will work under the BoKlok payment model, "Left to Live", where the residents are only charged what they can afford after tax and living costs.
Payments – usually around one-third of net monthly earnings – go towards a 25-year mortgage.
] Local councilors said in a statement that the project would allow Worthing to quickly build homes that meet quality standards.
A spokesperson told CNN Business that BoKlok's modular home – or homes made of mounted parts that could be done – would be particularly useful in Worthing, which has limited land. Three times as many homes could be built in the area compared to a traditional development approach, he said.
Construction was scheduled to begin in January 2021, according to the proposal. The inhabitants would be able to start moving in April of the same year.
BoKlok said in a statement that it cannot confirm any projects at this time, but it looks at potential websites in the UK, especially in southern and western parts of the country.
The BoKlok approach to affordable and sustainable housing draws a lot on Ikea's tested methods.
Venturen It also manages the entire supply chain, including acquisitions, factory production, side work, sales and marketing. It helps trim costs. In addition, BoKlok relies on wood for housing construction, and does not buy land unless it knows that it can be developed within a short time.
This efficiency has the potential to be lucrative. In 2017, BoKlok accounted for about half of the homes Skanska sold in Sweden, and the company said that the initiative provided "good" returns.