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Cash boost for social housing consortium

Social housing consortium JV North claimed £43 million of grant from Homes England in the 2017/18 financial year as its development programme forges ahead.

Made up of nine housing association members across the North West, the funding was for the last year of the 2015/18 Affordable Homes Programme and the current 2016/21 Shared Ownership Affordable Homes Programme.

The grant, along with member investment, will finance the building of 1,355 homes.

JV North also brought forward 184 starts on-site from continuous market engagement bids during the year.

JV North Chairman Nigel Wilson, who is also Chief Executive of Wythenshawe Community Housing Group, said,

“This is the highest amount of grant the consortium has claimed in one financial year. It demonstrates how committed members are to building new homes and how well organised the JV North development programme is managed. We have a varied programme of scheme types and tenures, a resilient business plan and a proven track record to help us meet demand across the North West from rural sites to city centre developments. Together with Homes England, we are investing well over half a billion pounds (£623.2m) in the 2016/21 Shared Ownership Affordable Homes Programme to build 3,849 homes and while this is ambitious, we are well on course to deliver.”

In total, JV North has a grant allocation of £125 million from Homes England for the 2016/21 Shared Ownership Affordable Homes Programme and members are investing £498.2 million as they build 3,071 homes.

The consortium, which collectively manages 114,500 homes, has a long history of development having built the equivalent of one home every working day since forming in 2007.

It recently committed to building two homes every working day until April 2021.

 

Further details 

  1. Collectively, JV North members manage over 114,500 homes
  2. Members include: Community Gateway Association, Liverpool Mutual Homes, New Charter Housing Group, Sovini, Torus, Trafford Housing Trust, Weaver Vale Housing Trust and Wythenshawe Community Housing Group
  3. JV North members have invested £175,000 every working day with Homes England since forming in 2007
  4. JV North was a finalist in the 2018 UK Housing Awards in the Development Programme of the Year category