HCA acts to drive up supply of affordable homes
12 December 2008
< Back to news index
In its second week of operation the Homes and Communities Agency (HCA) has spelt out its offer to development partners to help drive forward housing supply.
Registered Social Landlords and other partners, eligible for funding through the National Affordable Housing Programme, have been given a menu of options from the HCA to support them through the current volatile market.
Sir Bob Kerslake, chief executive of the HCA said: “We want to work with partners individually to come up with tailored solutions that will help maintain and increase capacity. For example, we are exploring the feasibility of converting existing low cost home ownership properties to rent-to-buy, this would involve the HCA supplying investment funding with the expectation – in the medium term - of a return once homes are sold.”
Sir Bob added: “We have the flexibility to provide not only grant, but different types of investment that will assist partners continue their development programmes. This is a ‘something for something’ strategy that should start to unblock the housing ‘stalemate’ by increasing levels of rental homes and kick starting stalled schemes.”
Other measures, outlined in a letter to development partners, include support from the HCA to assist with accessing funding for land purchase; an equity investment model to support the development of major strategic sites; and access to HCA sites for development.
The options were outlined by Sir Bob Kerslake at a conference ‘ Housing, regeneration and the credit crunch strengthening communities through tougher times’ (11 December 2008)*.
ENDS
For further information: Anne Kerin, HCA press office on 020 7881 1653 and for a copy of the letter to development partners
Note to editors
The HCA is the single, national housing and regeneration agency for England. We bring together English Partnerships, investment functions of the Housing Corporation, and the Academy for Sustainable Communities, with major delivery programmes of Communities and Local Government.
Our role is to create opportunity for people to live in high quality, sustainable places. We provide funding for affordable housing, bring land back into productive use and improve quality of life by raising standards for the physical and social environment.
* Housing, regeneration and the credit crunch strengthening communities through tougher times conference, supported by HCA, BURA, Shelter and Municipal Journal.