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Housing Led Regeneration Investment in Tyne and Wear Glyn Drury

Housing Led Regeneration Investment in Tyne and Wear Glyn Drury Director Tyne and Wear Housing Partnership 2008 December 2. This presentation is an introduction to:. TWHP Investment picture Priorities HCA NeW Delivery Models Local Housing Companies Gateshead JVP.

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Housing Led Regeneration Investment in Tyne and Wear Glyn Drury

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  1. Housing Led Regeneration Investment in Tyne and Wear Glyn Drury Director Tyne and Wear Housing Partnership 2008 December 2

  2. This presentation is an introduction to: • TWHP • Investment picture • Priorities • HCA • NeW Delivery Models • Local Housing Companies • Gateshead JVP Housing Led Regeneration Investment in Tyne and Wear 2

  3. What is TWHP? • Consortium of five strategic housing authorities along with Bridging NewcastleGateshead HMR Pathfinder working at city region level • Working with NEA, HCA, RDA, ANEC, City Region and other sub regions in north east. • Sub regional housing strategy • Strategic Housing Market Assessment • Allocation of £7m SHIP annually • Advice on other sub regional and regional housing investment • Sub regional choice based lettings • Gypsies and Travellers Needs Assessment • Board – Lead Members • Heads of Service Group • Policy Group Housing Led Regeneration Investment in Tyne and Wear 3

  4. Housing Investment- the Big Picture • Source: BERR Select Committee Table 1 para 9 “Construction Matters” Housing Led Regeneration Investment in Tyne and Wear 4

  5. Housing Led Regeneration - NE Govt Funding £msource: Regional Funding Advice Housing Led Regeneration Investment in Tyne and Wear 5

  6. Housing Led Regeneration - NE Govt Funding • Excludes ERDF funding to region • Excludes any Growth Fund and Community Infrastructure Fund (no regional allocations) • Excludes a number of other direct funding programmes eg PFI Homeless Grant Housing and Planning Delivery Grant Housing Revenue Major Repairs Allowance Housing Led Regeneration Investment in Tyne and Wear 6

  7. Housing Led Regeneration - Post 2011? • Pre Budget Report • At best a freeze at worst cuts in government spending • Rationing by lenders Housing Led Regeneration Investment in Tyne and Wear 7

  8. Est. Govt Investment Tyne & Wear 2008/09 £m * At least 70% of govt housing and regeneration spending will be made through the Homes and Communities Agency from 09/10 # incl in Regional Housing Pot Housing Led Regeneration Investment in Tyne and Wear 8

  9. Place Making Priorities • BNG Priority Areas (11 Communities) • Lower Walker, Elswick, Scotswood, Benwell/High Cross, Saltwell/Bensham, Deckham • Cleadon Park, South Shields • Hendon, Hetton Downs, Castletown, Sunderland • Wear corridor/Sunderland centre (Priority 1 - 5 new communities ARC) • Vaux, Farringdon Row, Holmeside, Sunniside, Stadium village/Sheepfolds • Tyne Gateway • Walker, Wallsend, to North Shields north bank • Hebburn, South Shields south bank • Growth Points Housing Led Regeneration Investment in Tyne and Wear 9

  10. Housing Led Regeneration Investment in Tyne and Wear 10

  11. Homes and Communities Agency- New Opportunities • 1 December • Investment functions of Housing Corporation, English Partnerships and teams from CLG • Pat Ritchie Regional Director (ex One NorthEast, Sunderland and Newcastle) Housing Led Regeneration Investment in Tyne and Wear 11

  12. Homes and Communities Agency- New Remit, New Way • New organisation, new flexibility • New culture – national objectives, local ambitions • New partnerships with local government, private sector, RSLs, and regionally • New business process (single conversation) • New business products • New relationship with Government – the voice of delivery • Investment agreements Housing Led Regeneration Investment in Tyne and Wear 12

  13. Homes and Communities Agency Housing Led Regeneration Investment in Tyne and Wear 13

  14. Homes and Communities Agency- Benefits • An approach focused on the needs of communities and people • An approach based on programmes of activity rather than funding projects • An integrated approach –using funding flexibly, in a way that meets the needs of that area • A responsive, adaptable approach able to innovate to come up with new solutions for changing circumstances Housing Led Regeneration Investment in Tyne and Wear 14

  15. New Delivery Vehicles - Potential • Local Housing Companies, Gateshead Joint Venture Partnership • 4 companies geographically based • Over 70 sites • Over 10,000 new homes Housing Led Regeneration Investment in Tyne and Wear 15

  16. Local Housing Companies - Background • 2007 Housing Green Paper • One of a series of initiatives • 14 national pilots including Newcastle and Sunderland in the north east • “master developer for new communities” • Focus on delivery Housing Led Regeneration Investment in Tyne and Wear 16

  17. Joint Venture Models - Key Objectives (1) • Increase the supply (net additional) of a range of homes, including affordable homes • Maximise use of Local Authority land asets • Position the Local Authority at a stronger point in the centre of the development process • Sharing risk and reward • Capture a share of any increase in land value over time • Increase pace and predictability of development Housing Led Regeneration Investment in Tyne and Wear 17

  18. Local Housing Companies - Key Objectives (2) • Complement existing regeneration initiatives and achieve added value • Create quality, sustainable schemes which provide wider customer choice and tenure options, particularly the intermediate market • Provide opportunities for a range of investment and development players to become partners of the Local Authority Housing Led Regeneration Investment in Tyne and Wear 18

  19. Joint Venture Models - Key Players • Local Authority – provides the land • English Partnerships (HCA) – provides the technical support and expertise (and some funding) • Contractor(s) • Funder(s) Form Joint Venture Company Housing Led Regeneration Investment in Tyne and Wear 19

  20. Joint Venture Models - what’s different • Move from gap funding to investment • Sharing risk and reward • More LA leadership and control • Less reliance on planning obligations • Long term interest by all partners Housing Led Regeneration Investment in Tyne and Wear 20

  21. Scotswood Urban Regeneration Vehicle • Newcastle’s first LHC • 2,200 new properties planned • Predominantly family housing and associated community infrastructure • Legacy of housing market failure in West End • Transformational Change • Expo • Significant public sector support & funding Housing Led Regeneration Investment in Tyne and Wear 21

  22. Scotswood Urban Regeneration Vehicle - Structure • Joint Venture Company with 50% of shares held by the public sector (Newcastle City Council & English Partnerships/HCA) • Financial support from Bridging NewcastleGateshead and Housing Corporation/HCA • Not just housing – investing in schools, enterprise, public realm, green infrastructure and community facilities. Housing Led Regeneration Investment in Tyne and Wear 22

  23. Scotswood Urban Regeneration Vehicle – Current Position • Selection of development partner at competitive dialogue stage • Key element of Growth Point Programme of Development • Financial closure planned Summer 2009 • Programme to commence late 2009 Housing Led Regeneration Investment in Tyne and Wear 23

  24. Newcastle City Wide LHC – Current Position • Thirty Council owned sites identified in development pipeline • Capacity 2,500 units • Options appraisal underway • Adaptation of financial models & sensitivity analysis • Review of intermediate tenure models • April 2009 – report to Executive Housing Led Regeneration Investment in Tyne and Wear 24

  25. Sunderland LHC – Current Position • 21 Council owned sites have been identified • 1 English Partnership site to be included in the LHC portfolio • Sites have been valued • Capacity for around 2,500 new homes • Financial Appraisals to be carried out on all sites • Steering Group set up to manage the process, inclusive of English Partnerships/HCA Housing Led Regeneration Investment in Tyne and Wear 25

  26. Gateshead Joint Venture Partnership • 19 sites – others added or removed as assessments progress • Potential 3,000 homes • Gross development value estimated at £1bn Housing Led Regeneration Investment in Tyne and Wear 26

  27. Gateshead Joint Venture Partnership- Progress • Limited Liability Partnership • Cabinet approval June 2008 • Project team established • Competitive dialogue started 21 November with invitations of interest • Operational September 2010 • BNG contribution to project costs • HC/HCA commitment to invest • ALMO interest as a development partner Housing Led Regeneration Investment in Tyne and Wear 27

  28. Joint Venture Models – Opportunities New intermediate housing products • Widen choice and meet aspirations • Create mixed and balanced communites - more affordable homes where needed - providing for specialist needs, elders, disability, support • Broader integration of housing supply and demand • Raise quality of housing • Meet growth targets • Ongoing neighbourhood management role Housing Led Regeneration Investment in Tyne and Wear 28

  29. Joint Venture Models – Challenges • Housing market difficulties – from credit crunch to recession. • Commitment to mixed communities • Confidence • Getting the right development partner • Quality of sites • Development management • Risk • Complementing not competing • Significant but not sole initiatives Housing Led Regeneration Investment in Tyne and Wear 29

  30. Thank you for listening Any questions? glyn.drury@northtyneside.gov.uk 0191 643 2180

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