SDC to build 1,856 with HCA funding
14.11.2011
Nearly 1,900 new affordable homes will be delivered across the South and South-West of England over the next four years as a result of an agreement between the Sovereign Development Consortium (SDC) and the Homes and Communities Agency (HCA).
The agreement, worth £31.5 million to consortium members, will see the SDC deliver 1,856 homes as part of the HCA’s Affordable Homes Programme, which is set to deliver 80,000 new affordable homes across England by 2015. This major contract is one of the largest to be agreed by the HCA team in the South and South West of England.
The SDC is an alliance of eight general needs landlords and specialist housing providers based around the South and South West of England with a broad range of skills and strengths. By collaborating together, they can cut procurement costs, achieve efficiencies, bid more effectively for funding and share best practice.
Of the 1,856 homes to be constructed by the SDC under this agreement, 1,100 will be built by the lead partner, Sovereign Housing Association, which will receive £17.5 million. Five other SDC members are also receiving funding: Ability Housing Association, Advance UK, Cottsway Housing Association, Housing Solutions Group and Solon South West Housing Association.
Some 1,397 of the homes to be built will be for rent, while 459 will be available to buy or part own through a variety of affordable home ownership schemes. Eighty per cent of the programme is being delivered on firm identified sites.
“We are delighted that the good track record of Sovereign Development Consortium members in delivering cost-effective affordable homes has been recognised. This success has ensured that we are one of the largest recipients of HCA funding in the South West,” said Phil Stephens, Development and Commercial Director for Sovereign Housing Association.
“The current state of the housing market, where house prices are up to eight times the average salary, makes the provision of more affordable homes, whether for rent or shared ownership, all the more important,” he added.
Homes will be built with the HCA funding across the South and South West. Among the areas to benefit from significant numbers of new homes are:
· Oxfordshire – 427 homes
· Gloucestershire – 212 homes
· West of England – 198 homes
· Swindon and Wiltshire – 179 homes
· West Berkshire – 177 homes
· Exeter – 145 homes
· North Hampshire – 121 homes
· East Berkshire – 102 homes
· South Hampshire – 64 homes
HCA executive director for the South and South West Colin Molton said: “This agreement is great news as it will see much needed new homes delivered across the South and South West and make a significant difference to the local communities in which we work.
“Our local teams have worked closely with the members of the Sovereign Development Consortium over recent months to ensure that its programme brings the maximum benefit for local people. But in many ways, the hard work starts now - and we will be focused on ensuring that people see the benefits of our investment over the next four years.”
Across the HCA’s South and South West operational area, the Affordable Homes Programme will deliver more than £240m in investment to help build more than 12,700 new homes over the next four years.
Successful bidders for the Affordable Homes Programme were announced on 14 July this year. This programme is being delivered alongside the HCA’s management of former Regional Development Agency-owned sites and its continuing work with local authorities to support their priority projects.
