Saturday, 26 July 2014

HCA affordable homes contracts top £1 billion

Contracts worth a total of £1.21 billion have now been signed under the affordable homes programme, the Homes and Communities Agency has announced.

A total of 74 contracts have now been finalised under the programme, which allows landlords to charge rents at up to 80 per cent of the market rent on new build and some re-lets in return for development funding.

Affinity Sutton, The Guinness Trust and London & Quadrant are the latest landlords to sign their contracts, worth £65 million, £52 million and £35.9 million respectively.

A total of 72 organisations have yet to sign their contracts and nearly £600 million is still to be allocated.

Pat Ritchie, chief executive of the Homes and Communities Agency, said: ‘We are well on track to see the majority of contracts signed by the end of this year.’

The HCA announced last week that it would review bids which have not been signed by mid-November. The agency has the ability to move allocations to other providers if bid negotiations are not progressing.

Have your say

You must sign in to make a comment

sign in register

Newsletter Sign-up

More Newsletters

Related

Articles

  • Delivery concerns at Affinity Sutton

    02/08/2013

    One of England’s largest developing landlords has said it is unlikely to be able to deliver all 3,000 homes it is contracted to build by April 2015 under the government’s £1.8 billion affordable homes programme.

  • Reduced interest in affordable funding bid round

    11/04/2014

    Two London landlords will bid a third of previous amount in next round

  • HCA makes slow progress on financial protocol

    06/09/2013

    The social housing regulator has yet to put in place a financial protocol for dealing quickly with housing associations in ‘serious’ trouble - nine months after the head of the civil service suggested it does so.

  • The race is on

    06/09/2013

    The clock is ticking for housing associations developing under the affordable homes programme. Michael Haddon reports on why, with just 19 months to go, some landlords fear this is a deadline they cannot meet.

  • Risky business

    31/01/2014

    England’s housing minister, Kris Hopkins, may say he recognises the requirements of the bidding prospectus for housing providers to access £1.7 billion of public funds to develop their share of 165,000 homes are ‘a challenge’ for landlords. But does he?

Resources

  • Precision thinking

    15 January 2014

    Analysis of its lets, voids and tenancy lengths has allowed Adactus Housing Group to cut its planned maintenance bill by millions of pounds a year and plough the savings into developing new homes. Kate Youde finds out how

  • Connect found

    31/01/2014

    A mobile phone health and well-being ‘app’ is transforming the lives of Bristol residents. Alex Turner reports

  • The magic formula

    13/09/2013

    New business models may be key to unlocking council housing development.

  • The prefab way

    28/02/2014

    Hammersmith & Fulham Council is erecting pre-fabricated homes and Brighton has turned to shipping containers, Lydia Stockdale reports

  • The key to recovery

    25/10/2013

    Can living in general needs homes give drug and alcohol abusers a better chance of recovery? Caroline Thorpe reports on the three-year pilot study in Northamptonshire that tried to find out

IH Subscription