Regenter pre-qualifies for the Housing Corporation’s National Affordable Housing Programme
24 July 2007
Regenter is delighted to have today pre-qualified for the Housing Corporation’s National Affordable Housing Programme (NAHP) 2008-11.
This will enable Regenter, one of the UK’s leading investors in and deliverers of community based regeneration projects, to bid for the Housing Corporation’s social housing grant (SHG) in order to deliver new affordable housing when the bidding process opens in September 2007. Scheme-based bids for SHG will be assessed on value for money and strategic fit grounds and, where a bid is successful, schemes will need to be delivered by 2013.
Regenter shareholders, John Laing and Pinnacle Regeneration Group, will establish a separate jointly-owned company as a private sector landlord of affordable homes secured with grant funding. In contrast to the Corporation’s current non-RSL partners this company will own, fund and manage the housing stock over the long term rather than transferring units to an RSL after drawing down grant.
Steve Trueman, Director of Housing Investment at Regenter, said: “We are delighted with this outcome. Housing Corporation approval signals a serious effort to expand the mixed economy of providers and is evidence that Government wants to see private sector capital brought to bear in providing affordable housing.
“Regenter’s ability to bid for social housing grant together with Pinnacle’s accreditation by the Corporation in January this year as a housing and neighbourhood service provider means that we are in a position to move forward with our plans to own, fund and manage affordable housing as a long term, private sector proposition.
“We will apply an integrated approach to bidding schemes which involve the re-planning of estates and the re-provision of homes on a mixed tenure basis. Regenter can refurbish and build new homes for the local authority, build new homes for sale and now provide non local authority owned affordable housing all within the ‘family’ of companies,” he said.
Housing Corporation Acting Chief Executive, Steve Douglas, said: "In 2007-08 we're helping to provide over 47,000 affordable homes through our investment partners. And in future years we're looking to deliver even more homes, so that more people can get onto the property ladder, find a home to rent or one that offers the support they need.
"In preparation we are announcing the names of our new investment partners who will be working with us to deliver affordable housing over the next three years."
The Corporation currently have eight “non RSL” or private sector investment partners receiving SHG through the 2006-08 NAHP. Pre-qualification gives Regenter the opportunity to join this select group.
For more information about the National Affordable Housing Programme, visit the Housing Corporation’s website to download their “Delivering affordable housing
and meeting the challenges of growth and efficiency” publication
here.
For further press information on PRG call Katrina Swanston on 077 3725 7719 or
email Katrina.