£42m HCA affordable homes contracts signed
Three more housing associations have signed contracts under the affordable homes programme worth a total of £42.2 million.
Hyde Housing Association, Hanover Housing Association and the Together Group have now agreed deals with the Homes and Communities Agency under the programme, which allows organisations to charge ‘affordable’ rents at up to 80 per cent of market value in return for development cash.
Hyde has been awarded £24.9 million for 1,030 new homes, of which 804 will be let at affordable rent and 226 will be for low cost home ownership.
The 43,000-home association’s chief executive Steve White had previously said he was concerned about some councils vetoing rent levels in agreed bids and in October asked housing minister Grant Shapps to look at the issue. But he has now felt able to sign the deal.
Together Group, formed in April through a merger of Trans-Pennine Housing, Chevin Housing and Prospect Homes, will receive £15 million for 783 homes, including 78 homes for low cost home ownership.
Hanover Housing Association, a specialist provider of retirement housing, has been awarded £2.3 million to build 73 homes in London.
The allocations mean the HCA has awarded £1.5 billion to 95 providers, with a further £300 million yet to be signed off.