Consortium to spend £100m on North West homes

By Bridging Loan Directory -

Social housing consortium JV North has announced plans to spend £104.3 million to build over 900 new homes in the North West over the next four years according to BusinessDesk.com.

The consortium, whose members include New Charter Housing Trust, Helena Partnerships and Liverpool Mutual Homes, has received £20m from the Homes & Communities Agency under the government’s Affordable Homes Programme.

Some 905 homes will be built – 744 at affordable rent rates and 161 will be developed for shared ownership.

The £20m will be distributed to consortium members on a pro-rata basis, depending on the number of homes each one is building. A breakdown of the number of properties being built by each member is below.

JV North chairman and Helena Partnerships’ chief executive, Rob Young, said: “JV North has a proven track record of delivering high quality social housing and the HCA grant provides us with another opportunity to develop housing in the North West and cater for the high demand in the region.

“The next four years will see JV North members building modern, energy efficient homes for local people and the affordable homes programme will also allow us to extend the range of tenancy options, making housing available to more people in our communities.

Deborah McLaughlin, North West executive director at the HCA, said: “This agreement will lead to the delivery of vitally important new homes and make a great difference to the lives of many families across Greater Manchester and Merseyside.”

New Charter Housing Trust:      317 homes
Helena Partnerships:                  226 homes
Liverpool Mutual Homes:           74 homes
Parkway Green Housing Trust:  68 homes
Trafford Housing Trust:              198 homes
Weaver Vale Housing Trust:      22 homes