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Brendan is the founding Chair of Sustainability for Housing. He has more than 20 years’ experience as a CEO in the social housing sector,...more
Larger associations can deliver placemaking at scale
Peabody’s Thamesmead regeneration demonstrates how larger housing associations can have a real impact on placemaking, says Brendan Sarsfield
Four months into the creation of a new Peabody and I’m still smiling. This is because of the potential we have to do so much more for our current and future residents and communities.
It is easy to knock large housing associations – but Peabody, and others in this space, are transforming into something we couldn’t be before. That is not to undervalue other associations, or anyone else. It is just that some large housing associations have, or are, creating new large-scale opportunities to improve our cities.
Last week we launched a competition to find a partner to help us build 11,500 homes on land we own at Thamesmead in south-east London. An opportunity to recreate a new town within the city of London. The size of this opportunity means that we need new skills to deliver placemaking at a scale that caters for jobs, a town centre, health, social care, schools, transport and housing a wide range of people. Overall we will be building 20,000 homes at Thamesmead.
This is all being enabled by the arrival of Crossrail and the promise of a new Docklands Light Railway station.
“The size of this opportunity means that we need new skills to deliver placemaking at a scale.”
We are now thinking about how we capture the increases in value of our land and homes from the new transport systems and use it to benefit the community and keep homes accessible to all. We are also thinking about the role of the arts, leisure, the use of the waterfront and the lakes and canals that we own, plus working with others to redesign a town centre with 1m sq ft of commercial space. This will create high-value local jobs and new commuting options for existing and future residents.
We have previously partnered with other stakeholders to build 1,000 home developments and invest in communities and services. But this is a different ball game.
We already have a number of important long-term partners at Thamesmead. These include two local authorities (Greenwich and Bexley), the Greater London Authority, Transport for London and the developers we will be introducing to build the first 2,000 new homes just outside the new Waterfront development.
And of course our staff, who are planning the new homes and managing the existing 6,000 homes we already have in Thamesmead. But this competition is looking for another partner with vision, shared values, and an ability to deliver at scale.
Peabody is changing from a traditional housing association, housing developer and service provider into a collaborative organisation that can work with the public and private sector to build new settlements in and around London. We are patient investors rather than developers.
We are returning to the spirit of George Peabody who had the vision in 1862 to invest in the future at scale.
“We are returning to the spirit of George Peabody who had the vision in 1862 to invest in the future at scale.”
As I said earlier, others have been in this space for some time and some are moving into it. This means the market has new large players whose model complements the traditional development model, rather than replaces it. This is evidenced by the increasing number of joint ventures we and others are involved in.
Thamesmead is only part of our vision to concentrate on supporting those on low incomes, developing at scale, and helping communities build long-term resilience. With 55,000 homes to look after, I know I won’t always feel like smiling. But four months into the new role, I hope you understand why I am feeling good.
Brendan Sarsfield, chief executive, Peabody
