Thursday 26 April 2007
Partnership's record year for new homes

The bpha-led Key Communities development partnership has delivered an exceptional performance in its affordable housing programme for 2006/07.

The seven partners have significantly exceeded all four targets measured by the Housing Corporation - cash drawdown, allocation take-ups, start on sites and completions.

Key Communities committed £63 million overall to its joint development programme in just 12 months. The larger than expected amount led to significantly higher levels of activity, reflecting the robustness of the partnership's development programme and its ability to swiftly bring forward building work to match the availability of funds.

Of the total sum, £45 million has been funded by the partners themselves, mostly through their own private lenders but also via grants from local authorities. The remaining £18 million came from Housing Corporation grants, nearly £6 million more than initially allocated a year ago, reflecting the fact that Key Communities received substantial additional sums to take up slippage elsewhere in the eastern region.

The members of Key Communities are bpha, Colne Housing Society, Cotman Housing Association, Howard Cottage Housing Association, King Street Housing Society, Papworth Trust and Suffolk Housing Society.

End-of-year figures show the partners have started on site to create nearly 590 new affordable homes across the region.

Key sites include Arbury Park north of Cambridge and Mawsley village in Northamptonshire where the partnership is providing a wide range of housing.

John Cross, chief executive at bpha which takes the lead in Key Communities, said: "We are delighted that the partnership has been able to deliver the first year of its development programme so effectively, and secure additional funding to do even more.

"The east of England is a major growth area. Increased demand for housing is pushing prices higher and the provision of affordable housing must keep pace.

"The success of Key Communities means many more people are being given a place to call their own - whether that is rented family accommodation, a shared ownership apartment for a young couple joining the property ladder or supported housing for those with special needs. 

"We are committed to providing high quality homes that people can afford, in communities where they want to be. As a partnership, Key Communities has proven that it can do this quickly and efficiently."

Key Communities is now starting the second stage of its development programme which is costing a total of £143 million across both years. This includes £41 million allocated to the partnership under the Housing Corporation's National Affordable Housing Programme for 2006-08.