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Construction News
26/10/2016
JV North Expands 2015/18 Affordable Homes Programme
Social housing consortium JV North has revealed it will build over 400 additional homes as part of its 2015/18 Affordable Homes Programme.
The organisation will deliver an extra 429 properties in the North West, in addition to the 1,745 already planned, before April 2018.
The increase is possible after the Homes and Communities Agency (HCA) granted an additional £13.4 million towards the housing programme, taking the total amount of money invested by agency up to £48.2 million.
JV North is made up of landlords in Greater Manchester, Liverpool, Nottingham and Preston, who will supplement the HCA's grant with a £30.8m investment. Overall, the 10-member group will invest a total of £192.7m.
So far, the JV has completed 220 new homes on the programme and members have started on site building a further 671 properties.
Chairman Nigel Wilson said: "The speed at which members are delivering homes in the 2015/18 Affordable Homes Programme is excellent.
"Even better news is that our ability to deliver and commitment to building has been recognised by the HCA and we've received additional grant of £13.4 million to build 429 more homes – a really significant increase. It stems from good management and delivery that spans many years.
"Members completed their allocations ahead of schedule in the 2011/15 programme and this enabled them to drawdown funding early in this round which is why 220 homes have been completed already.
"It means 891 homes are either completed or work has already started and this will go some way towards helping us deliver much-needed homes in our communities."
(LM/MH)
The organisation will deliver an extra 429 properties in the North West, in addition to the 1,745 already planned, before April 2018.
The increase is possible after the Homes and Communities Agency (HCA) granted an additional £13.4 million towards the housing programme, taking the total amount of money invested by agency up to £48.2 million.
JV North is made up of landlords in Greater Manchester, Liverpool, Nottingham and Preston, who will supplement the HCA's grant with a £30.8m investment. Overall, the 10-member group will invest a total of £192.7m.
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So far, the JV has completed 220 new homes on the programme and members have started on site building a further 671 properties.
Chairman Nigel Wilson said: "The speed at which members are delivering homes in the 2015/18 Affordable Homes Programme is excellent.
"Even better news is that our ability to deliver and commitment to building has been recognised by the HCA and we've received additional grant of £13.4 million to build 429 more homes – a really significant increase. It stems from good management and delivery that spans many years.
"Members completed their allocations ahead of schedule in the 2011/15 programme and this enabled them to drawdown funding early in this round which is why 220 homes have been completed already.
"It means 891 homes are either completed or work has already started and this will go some way towards helping us deliver much-needed homes in our communities."
(LM/MH)
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