Barking & Dagenham housing development & affordable
housing delivery vehicles
Ken Jones
Head of Housing Strategy & Property Services
new housing supply in B&D
decants total social rented (new)
total intermediate (new)
total market homes
(new)
2008 130 89 80 205
2009 200 568 305 784
2010 515 1, 065 752 1,465
2011 359 831 680 1,455
2012 300 593 330 1,205
2013 300 593 330 935
2014 300 507 295 945
2015 100 242 180 850
2016 - 272 165 805
2017 - 167 110 615
Totals. 2,204 4,927 3,227 9,264
major housing development sites
meeting different household needs & aspirations
bedrooms target
1
2
3
4+
30%
20%
35%
15%
• larger family homes will help meet foster carers need • affordable homes 50% of the total new housing • shared ownership must be affordable for local people –
importance in promoting independence and raising aspirations.
affordable housing delivery: Local Housing Trusts
• Housing Green Paper – B&D pilot
• potentially owning 8,000 new affordable homes
• developed under 2 LHTs
delivery of new affordable homes: Local Housing Trusts
What is it and what does it do
Trust, comprising the Council, investment partner & English Partnerships
Why
How
delivers, owns and manages new affordable homes
locally accountable – not an RSL, based in the community and maximises new affordable homes.
uses Council’s land holdings, attracts investment funding. secures Housing Corporation grant and recycles receipts into new homes
model
LBBD transfer land as equity
possible 3rd party debt
Local Housing Company
50/50 vote
Housing Corporation grant / investment
LBBD equity equalsshareholding no more than 49%
Investor provides equity
at 51%
social rented
shared ownership
recycle receipts
intermediate rent
managed through
accredited housing manager FM maintenance
Barking Riverside Local Housing Trust
• private / public partnership
• 4,000 new affordable homes Barking Riverside
• 250 -300 within the redevelopment of eastern end of Thames View Estate
Barking & Dagenham Local Housing Trust
• Council led public / private partnership
• Barking Town Centre estates renewal
• potentially other Council land
• potentially refurbishment to tower blocks
why Local Housing Trusts work for Barking & Dagenham
• potential for land value uplift
• Council ownership of land holdings
• collaboration with English Partnerships
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