Shedding light on affordable new homes without a grant
Organisations are struggling to procure sufficient affordable housing with the market still subdued and the CSR meaning social housing grant is likely to be in short supply. Organisations are concerned about the 51% cut in the affordable housing budget, worried about new affordable rents at 80% of market rents and confused by the caps to Housing Benefit/Local Housing Allowance.
Adams Integra can help.
Adams Integra provides development, planning services and training for Local Authorities, Housing Associations and Developers. We employ one of the most experienced helpful and friendly affordable housing teams. Now more than ever efficiencies and value for money are paramount, we can work with you to deliver new affordable housing. An initial consultation and advice costs you nothing.
For more information please contact Adams Integra tel 01243 771304 or email enquiries@adamsintegra.co.uk. One of our consultancy team will then contact you to arrange a no cost introductory meeting to discuss opportunities and approaches.
Use your Land
Make your land holdings work for you.
Do you have underused garage blocks or communal areas on existing estates?
Could you rationalise your building use to co-locate thus freeing up sites?
Has there been a recent review of all of your land holdings to identify those that might be surplus?
- Inputting free land delivers sub-market renting (75% to 80% of market rents) and shared equity in most cases without recourse to other capital subsidy (e.g. SHG).*
- Cross subsidy from housing for sale may be able to deliver new social rented homes at target rents to provide for people in low paid employment on market value land.
- Land/new units can be sold on a leasehold basis by you to maintain more control over the development.
- New homes can be delivered in a joint venture with a private developer/landowner and/or in conjunction with other social landlords.
What Adams Integra can do:
Adams Integra expertise in non-grant affordable housing.
- We have modelled nil-grant developments using scheme data for East London, western Surrey and Devon which shows that new sub-market renting and shared equity (assuming no abnormals and code 3) works.
- The new Government’s 80% of market rents appears to be financially viable and projects are unaffected by the LHA ‘HB’ caps.
But how do you provide new housing for those on low incomes?
- Cross subsidy from market housing – we’ve also modelled these scenarios assuming a JV where risks and rewards are shared.
We are currently working with the London Borough of Tower Hamlets to assess development partners, and delivery vehicles for large scale regeneration and infill schemes.
We are assisting Mole Valley District Council in Surrey with affordable housing viability reports, scheme specific appraisals, and affordable housing and infrastructure negotiations with our viability toolkit. We have assessed lease and other non-grant models with Devon Strategic Housing Group and we are discussing LHC options with Waverley Borough Council in Surrey.
Should you then wish to go ahead we can assist with:
Developing new affordable homes:
- Project management, development procedures, 2012 commitments, OJEU procurement, bid submissions and financial monitoring; site finding, partnerships, risk appraisal and management and developing sustainable homes. Advise on partnerships/delivery vehicles mutuals. Negotiate with developers. We can provide a ‘1 stop shop’ team including project management, architect, QS and sustainability assessment.
- Advise on funding models including Asset Backed Vehicles, Tax Increment Financing, lease finance etc.
- Planning -Pre-application discussions, planning applications, S.106 support, planning advice and appeals. Master planning coordination. SPD revisions. Viability studies
Adams Integra 2011 – life after the CSR
