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Homes England strategic partners to get £1bn cash boost
Homes England’s strategic partners will be given the opportunity to bid for an extra £1bn in funding and the chance to extend their current deals for an additional five years, the housing secretary will announce today.
Speaking at the Chartered Institute of Housing’s Housing 2019 conference, James Brokenshire will unveil plans to give Homes England’s 23 partners, which includes 28 housing associations, the opportunity to bid for the extra cash and extend their deals from March 2024 to March 2029.
Last July the first wave of strategic partners were announced, which saw just under £590m given to eight housing associations to deliver over 23,500 housing starts by March 2022.
Since then a total of 23 partners have been chosen, with the government handing out more than £1.74bn to deliver an additional 39,000 new housing starts by March 2022.
Unlike other grant regimes, such as the continuous market engagement used under the Affordable Homes Programme, strategic partners do not have to put in bids to fund individual developments. Instead, associations have flexibility to use their strategic partnership grant how they like over the five-year period, as long as they hit their housing starts target.
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The Ministry of Housing, Communities and Local Government has said that the successful bids for this next round of money will require existing partners to demonstrate how they can achieve their plans and address Homes England’s strategic needs.
These needs include developing on brownfield sites, engaging with local small and medium-sized contractors, working with smaller housing associations and using modern methods of construction.
Sir Edward Lister, chair of Homes England, said: “The £1bn in additional grant funding will give our strategic partners more flexibility and longer-term funding certainty so that they can build the affordable homes their communities need over the next 10 years.
“I welcome today’s news and urge our housing association partners across England to get involved.”
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