A group of housing associations in the south west, which together have invested over £1bn in developing over 10,000 new grant-funded affordable homes since it was formed in 2003, are expanding their membership in order to build even more homes in the region.
Magna Housing (operating in Dorset and Somerset) and South Devon Rural Housing Association are the latest partners to join the 11 strong grant procurement partnership. Partnership SouthWest (PSW) enables members to work together to access government grant from the Homes and Communities Agency towards the development of new affordable housing. Over £386m of grant funding has been obtained to date to fund the new homes since 2003. Partners borrow money from private lenders for the remaining finance.
Over 560 homes are due to be completed this year by PSW and the partnership has a housing build programme to take it to beyond 2020 with an aspiration to develop at least 2,500 more grant-funded homes over the next five years.
Russell Baldwinson, Group Development Director and PSW lead partner said: “We are proud that PSW is a diverse partnership and has to date been able to invest in excess of £1bn in the provision of new grant-aided housing in addition to our own programmes without the grant, and we are continuing to identify opportunities to meet our ambitious plans over the next five years. As a leading housing provider in the south west, we know there is an urgent housing shortage and we are committed to playing a key role in addressing this along with our PSW partners and working closely with the Homes and Communities Agency.”
Image above: our Newton Ferrers scheme which was part of the South Hams District Council's Village Housing Initiative (VHI) and offers 8 affordable rent, 7 shared ownership and 1 open market sale homes to meet the increasing need for housing for local people, this scheme had HCA funding.