Specialist developer Blueprint is set to continue its successful run of innovative regeneration projects after an agreement that sees EMDA pass its shareholding in the company to the Homes and Communities Agency.

The transfer from the outgoing regional development agency means Blueprint will continue to be a 50-50 public private partnership, half owned by the HCA and half by Aviva Investors' Igloo Regeneration Fund, which invests in sustainable urban development.

The move, due to take place in September, retains Blueprint's public private structure, allowing it to continue to deliver residential, commercial and mixed use urban regeneration schemes across the East Midlands.

It was announced at a celebratory event for Green Street in The Meadows, Blueprint's astonishingly successful 38-home eco development in Nottingham.

Other successes since the developer's launch in 2005 include the iconic No.1 Nottingham Science Park and Leicester's digital media centre, Phoenix Square - both multi-award winning projects.

Blueprint chairman Jeff Moore said: "The partnership remains committed to working in difficult regeneration environments. It will continue to be innovative and entrepreneurial with a focus on sustainable investment and it will maintain its strong focus on delivering projects in partnership with local authorities and communities."

He said Blueprint strongly supported the localism agenda and would continue to address the needs of local authorities throughout the East Midlands helping them to deliver complex regeneration projects.

"There is no change to Blueprint's remit but there is renewed emphasis on drilling down to the needs of local authorities and communities," he said. "Blueprint is not here to promote national agendas but to help to deliver local priorities. Everything it does comes out of a dialogue with local authorities. Localism to Blueprint is business as usual."

Speaking at the Green Street event, Jeff Moore said: "This is a celebration of one hugely successful project and six years of regeneration achievement. It's also a celebration of future possibility." 

Chief executive Nick Ebbs said: "Green Street demonstrates what Blueprint is all about and our capabilities. The project originated out of a dialogue with Nottingham City Council and the community about how we could contribute to the renaissance of the Meadows area. 

"Following dialogue we concluded that we could help best by extending the range of housing. There is a lot of social housing and a lot of Victorian terraced housing but few good quality modern family homes.

"Our design response, which we worked up with a brilliant architectural practise Marsh Grochowski, respects the sites context and provides space that works well and looks great. The construction is innovative and the homes are very sustainable. Total energy costs we estimate will be around £20 per month.

"But the most satisfying aspect is to hear our first phase purchasers say they just love their new homes. Ultimately that it was what we are about. We want to create places and spaces that people love. You do that and you can build a successful and profitable business.

"The project is also significant because it is quite likely that in our future development portfolio we will see more of this sort of innovative residential development. There is a growing need and Blueprint has the requisite capabilities".