Esh Group celebrate £10.4m investment
A local housing scheme has been awarded a grant of £10.4 million under the Government’s Affordable Homes Programme 2011-15 (AHP), which will help to increase the supply of affordable homes in the region.
The contract between Esh Group and the Homes & Communities Agency is the first public/private partnership of its type to be signed nationally, and represents almost 6% of total funding allocated to the North East.
The money will now go towards building 541 affordable homes in Cumbria, Northumberland, Tees Valley and Durham. This figures includes 44 units for the Cyrenians vulnerable persons’ facility near Durham.
David Halfacre, Chairman of Esh Property Services, who led the bid said: “We are absolutely delighted to have won this contract – particularly as we have flown the flag for the North by being the first private developer led contract to be ratified.
“We are very much looking forward to progressing this project with our partners and together really making a difference for communities in the North of England.”
Most of the new homes will be made available as affordable rent, with others for affordable home ownership, supported housing and social rent.
Building work will begin in January 2012, and will be completed in partnership with Two Castles Housing Association, Livin (Sedgefield Borough Homes), Vela (Housing Hartlepool), Endeavour Housing and DAMHA (Durham Aged Miners Housing Association).
Commenting on the deal Anne Mulroy, Head of Area at the HCA said: “By working with Esh Group and its specialist subsidiary company Dunelm Acorn Homes, we are able to supply homes in four local areas through a range of partners which gives greater flexibility in meeting the needs of local residents.
“Supporting a successful local developer will ensure that the homes are delivered quickly for local residents and in a way that guarantees best value to the tax payer.
“This process has demonstrated the good work and benefits of linking public and private sector organisations to increase the supply of new homes. Our investment will ensure that almost 500 additional homes, including 157 in rural communities, are built across the North in the next three years.”
This was posted in Bdaily's Members' News section by Ruth Mitchell .
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