Strong communities with homes and jobs

The role of the HCA in delivering the homes the

country needsAndrew Rose

Chief ExecutiveHomes and Communities Agency

Housing Delivery Summit, 17 November 2015

Strong communities with homes and jobs

Overview

HCA’s role supporting the delivery of homes: Managing programmes, including:

o Affordable Housingo Help to Buy o Land o Recoverable Investment

Regulation Supporting places/devolution

Strong communities with homes and jobs

Affordable Homes Housing Corporation

Land / Regeneration

English Partnerships

1964

1999

Recoverable Investment HCA Investments

2013

Economic Assets / Local Growth

RDA AssetsHCA 2011

Regulation Tenant Services Authority 2012

Our history

Delivering the Government’s Housing Programmes in England

MANAGING PROGRAMMES

Delivering Major Projects

Strong communities with homes and jobs

Affordable HousingContributing towards 275,000 affordable homes

Focus of homeownership:

• Shared ownership

• Starter Homes

Specialised housing programmes

• Older and supported accommodation

- Care and Support Specialised Housing Fund (CASSH)

Strong communities with homes and jobs

Help to Buy

• 56,000 properties purchased with a Help to Buy Equity Loan

• 82% first time buyers

• Broad geographical spread

Strong communities with homes and jobs

Land • The HCA is one of the largest land owners in

the public sector

• In the last Parliament we:

• disposed of public land with a housing capacity of more than 23,000 homes

• reclaimed 712ha of brownfield land

• Worked with HBF and partners to refine and streamline our land disposal processes

• Focussed on bringing land into productive use to deliver homes, economic growth and employment.

RECOVERABLE INVESTMENT

Delivering Major Projects

Strong communities with homes and jobs

Types of funding Finance for

SMEs

Infrastructure Related Finance

Development Finance

Double bottom line

Strong communities with homes and jobs

1. Finance for SMEs

Builders Finance Fund (£525m) • Designed to restart or accelerate housing

developments between 5 and 250 units

• Addressing difficulties in SMEs accessing finance bringing forward stalled but viable sites.

Housing Growth Partnership (£100m) • Joint venture with Lloyds – equity based product

• Launched Spring 2015

• Broad sector coverage

Strong communities with homes and jobs

2. Development Finance

Build to Rent (£1bn) • Supporting creation of a long

term institutional asset class • Designed to help developers

produce large scale, quality homes for the private rented sector

Strong communities with homes and jobs

3. Infrastructure Finance For schemes which are ready to start development, but require capital investment to deliver up-front infrastructure.

• Enabling early investment in economic, social and community infrastructure

• Unlock and accelerate large site development

• Currently c£1.5bn allocated to this initiative

• Creating “new towns”

Strong communities with homes and jobs

LSIF: Wood Wharf • £5bn scheme that will form a

new mixed use extension to Canary Wharf

• 4.9m sq ft development across 30 buildings, comprising:

• 3,100 homes • 1.9m sq ft of commercial

space• 270,000 sq ft of retail space.

• HCA loan of £200m for infrastructure and development

• Banks financing tower blocks

Strong communities with homes and jobs

CranbrookMay 2011

Aug 2015

• New town to deliver at least 6,500 homes

• Early delivery of infrastructure: • Roads• Utilities • Social infrastructure – primary

school, education campus, leisure facilities and swimming pool

• Local co-operation and engagement

Strong communities with homes and jobs

Cranbrook

Brand Family

James and Georgia Brand moved to their 3 bedroom home in Cranbrook with their 2 sons (aged 9 and 1) in 2014 after living in a small flat in Exeter for nearly a decade. They have taken advantage of a shared ownership initiative by housing provider DCH (formerly Devon and Cornwall Housing) which has allowed them to buy part of the property with an option to buy a greater share in the future.