| 09 July 2020
Summary:An innovative new partnership between Metropolitan Thames Valley Housing (MTVH) and ReSI Housing (ReSI) will see more affordable homes delivered as part of the Clapham Park project.
An innovative new partnership has been confirmed between Metropolitan Thames Valley Housing (MTVH) and ReSI Housing (ReSI), which will see more affordable homes delivered as part of the Clapham Park project.
The partnership will see 132 homes that were due to be sold for private sale converted into affordable shared ownership homes. MTVH will retain management of the homes and the properties will be available to customers via SO Resi.
Importantly, the proceeds of the partnership will be reinvested in supporting MTVH’s delivery of more homes.
Kush Rawal, Director of Residential Investment at MTVH, said:
“This is an exciting partnership with ReSI Housing as we work together to deliver on a simple aim; to increase the supply of affordable housing. At MTVH we’ve always recognised partnership working as the cornerstone of our success. The sheer volume of homes that our nation needs will require us to come together and work in innovative ways to help meet the growing challenges faced by the industry. By bringing our sectors together in this way, we can take great strides to help meet these targets with purpose and urgency.”
“Shared ownership has always been an important part of our history and will certainly play an increasingly important role as we attempt to meet future affordable housing needs.”
Ben Fry, Investment Manager of ReSI Capital Management Ltd, ReSI’s fund manager, said:
“This is a further example of how ReSI is able to add to the delivery of much-needed affordable housing in the UK and demonstrates our ability to acquire Shared Ownership portfolios through partnerships with Housing Associations.”
Clapham Park is located in Lambeth, South London. These new homes are part of a major estate improvement programme that, once complete, will see 2,535 new homes delivered. More than 50% of all homes across Clapham Park will be affordable and all existing residents of the estate with a secure tenancy will benefit from a new or refurbished home. The scheme will also deliver new community, retail and workspace facilities. A new park with games areas, running routes and allotments will also be included, as well as a number of highways and transport upgrades.