03 April 2009
Spectrum smashes affordable home targets
A consortium of ten West Midlands housing associations has bucked the trend in the recent housebuilding downturn, investing £10m more last year on new, affordable homes in the region than forecast.
Spectrum Development Partnership, led by West Mercia Housing Group, released its end of year figures this week (April 1), showing that nearly 500 homes were built in 2008/09 – around 170 more than planned, representing in excess of £50m investment in new homes in the region.
The figures contrast with an overall decline in the national housebuilding market, which has seen a 32 per cent drop in completed homes in the past year.
Spectrum’s members, which span the West Midlands, manage more than 50,000 properties across the region. The increased housing stock will enable members to offer more help to people in need of affordable housing, at a time when waiting lists are set rise a further 20,000 in the coming two years, reaching record levels by 2011.
The additional money invested this year has been spent on new homes for rent and affordable ownership across urban and rural areas in Herefordshire, Worcestershire, Birmingham, Coventry, Staffordshire and Shropshire. Jason MacGilp, development director for West Mercia Housing Group, said: “We are very pleased with these results, which show that we’ve surpassed all of our targets this year – especially given the current economic downturn and slump in housebuilding nationwide.
“As Spectrum’s lead partner, West Mercia Housing Group has played a key role in securing funding from the Homes and Communities Agency.
“Working with our development partners, the Homes and Communities Agency and local authorities, we have completed high quality projects on deadline and budget, to deliver more affordable homes to people across the Midlands at a time when they are more in demand than ever.”
Peter Jones, head of investment for the Homes and Communities Agency, the government delivery agency for affordable homes and regeneration, said:
“We welcome the news that Spectrum is outstripping targets, and we are working as flexibly as possible with our resources to meet national and regional targets while supporting the ambitions of our local partners.”
Spectrum Development Partnership is an alliance of 10 housing associations which are working together to regenerate neighbourhoods, build communities and create at least 1,000 new affordable homes in the West Midlands each year.
Ends
Notes to Editors:
West Mercia Housing Group, based in Bromsgrove, manages approximately
, based in Bromsgrove, manages approximately
23,000 homes across the West Midlands, Herefordshire and Worcestershire.
The group is structured to facilitate local accountability and the provision of high
quality local services.
Founded in 1998, the group consists of Whitefriars Housing Group, Harden Housing
Association, Nexus Housing, Kemble Housing and Herefordshire Supported Housing
for Young People Project (SHYPP).
West Mercia Housing Group is a development partner with the Homes and
Communities Agency. It is the lead member of the Spectrum Development
Partnership that consists of Advance Housing Association, Bromsgrove District
Housing Trust, Central & Cecil, Central Borders Housing Group, Heantun Housing
Association, Herefordshire Housing, Nehemiah UCHA, Stafford and Rural Homes
and Severnside Housing.
Spectrum Development Partnership was established in 2003. It is a partnership of
was established in 2003. It is a partnership of
10 independent registered social landlords (RSLs), led by West Mercia Housing
Group and including Advance Housing Association, Bromsgrove District Housing
Trust, Central and Cecil, Central Borders Housing Group, Heantun Housing
Association, Herefordshire Housing, Nehemiah UCHA, Severnside Housing. Stafford
and Rural Homes
Between them the partners:
3
• Own and manage 50,000 homes across the West Midlands
• Have a development programme in excess of £175m
• Will deliver 1,000 new affordable homes each year
• Are active in 23 local authority areas in the West Midlands region
• Have over 1,800 staff.
West Mercia Housing Group is an investment partner with the Homes and
Communities Agency.
For further information please contact Fran Hall or Nikki Cheung, at The Bridge
Group, on 024 7656 0440, or f.hall@bridge-group.co.uk