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What happened to... Rio Ferdinand’s foundation?
In this new column, Inside Housing trawls the archives to find out what was happening five years ago – and update the sector on the progress of key stories
What story are we talking about this month?
Five years ago, retired footballer Rio Ferdinand launched a foundation to build new housing developments with 45% social housing.
He announced the plans at the MIPIM property conference in Cannes alongside then-housing minister Brandon Lewis.
The operation was called the Legacy Foundation, and commercial real estate firm Colliers International was slated to run it.
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So, what has happened since then?
Well, Inside Housing has been busy trying to find out. Unfortunately, no one involved in the Legacy Foundation has returned our emails.
We contacted everyone listed on the Legacy Foundation’s website, Colliers International, and the PR contact. Only the PR replied – to say they are no longer representing the foundation.
Er, surely you can tell us something about what the Legacy Foundation has been doing?
Sort of. The first project that the Legacy Foundation was going to be involved with was a 1,000-home, £400m development in Central Bedfordshire. The council was going to own the freehold, granting a lease to the investors. Work was meant to start on site in 2017, but in 2018 the BBC ran a story saying that work had still not started, and quoting councillor Antonia Ryan saying it might not happen.
In 2019, the website Environmental Analyst updated on problems with a second proposed project – this time in Colchester, which it reported would have seen a contaminated land site brought back into use with “hundreds” of homes being built close to the River Colne. The Legacy deal had stalled after failing to secure government funding to help meet the costs of demolition and remediation. Environmental Analyst reported that Colchester Council was therefore planning to sell the site.
In 2018, it was also reported that the foundation made a multimillion-pound bid to save Dulwich Hamlet FC’s Champion Hill ground. The owners had proposed a housing development that had fallen short of Southwark Council’s 35% affordable housing requirement. The bid was reportedly refused.
But what’s happening now?
Surprisingly for a project that launched with such a big fanfare, it’s hard to tell. Not only has no one responded to us, but the most recent update on the website of the Legacy Foundation is from 2016.
It’s possible that Rio Ferdinand has better things to do than respond to Inside Housing. But, as far as we can ascertain, this is a question that remains to be answered.
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