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Why extra care housing is still the right answer…

Extra Care Charitable Trust provides housing with care in villages and smaller schemes, offering independent, safe, and secure living options for older people. With a range of housing options available, including rent, buy, shared ownership, and care support, Extra Care Charitable Trust aims to improve the lives of older individuals through enriched opportunities and a network of inspirational communities.

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Why extra care housing is still the right answer…

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  1. Why extra care housing is still the right answer… Nick Abbey ExtraCare Charitable Trust

  2. Vision Better Lives for Older People Mission To give older people an independent, safe and secure future in a network of inspirational communities Vision and Mission

  3. Housing with care in villages and smaller schemes For anyone – rent, buy, shared ownership, with or without care and support 3555 apartments 1500 staff What we do

  4. “Conventional” extra care Rent/shared ownership or sales 40-60 homes? Most receive care – alternative to residential care Grant ExtraCare Charitable Trust Mix of “full” sales, s/o and rental (50:30:20?) 250 homes typically Lifestyle Minority receive care (25% - 33%?) Activities and volunteering Low/no grant Sales cross subsidy How is the ExtraCare Charitable Trust different?

  5. Arts and crafts centre IT suite Library Woodwork Relaxation room Winter garden/indoor bowls Restaurant/bar Shop Village hall Hairdressing Greenhouse Well-being centre Enriched opportunities Laundry Fitness gym Spa pool

  6. Shenley Wood, Milton Keynes

  7. Hagley Road, Birmingham

  8. Pannel Croft Opens!

  9. “…all the facilities and amenities these projects have so brilliantly incorporated.” “..it is here that the retirement villages…score so well.” The Happi Report

  10. “The inquiry heard how it may no longer be practical, however desirable, to advocate a rapid expansion of extra care housing with all the facilities these projects have so brilliantly incorporated…” The Happi Report

  11. “These extras…can absorb 40% of the floor space… And paying the service charges to sustain all these, usually well appreciated facilities can be a burdensome cost to residents..and to the State..”

  12. “..current age of austerity…cut one’s cloth..club room with kitchen facilities..” “..reduce requirements for expensive communal facilities and on-site staff.”

  13. Appraisal model – Hagley Road • 114 sales • 78 s/o sales • 49 rented • 241 • Aim to sell 80.2% equity • Av price £214,661 • Av receipt £172,233

  14. Loan required • Capital costs £45,096 • Grant -£1,200 • Fundraising -£500 • Sales proceeds -£33,069 • Loan required 10,327 • Facility from Lloyds 2012: £120m

  15. Capital Grants? • Examples: Pannel Croft in Birmingham: 180 apartments, 80% rent, 20% s/o • Grants: £13m • Coventry: 20% rent, 50% sale, 30% s/o, 262 apartments • Grants: nil “Money is never the problem with a good idea…”

  16. Burdensome service charges? • Birmingham • New Oscott (260) • Rent £117 • s/c £ 49 • Pannel Croft (180) • Rent £101 • s/c £ 33 • A N Other (34) • Rent £114 • s/c £ 48

  17. Reasons to say yes! • Improved health and wellbeing • Antidote to loneliness through “accidental contacts” • High demand to buy (and cross subsidise) because of the lifestyle – (probably not for a clubroom/kitchen..)

  18. More reasons… • US, Australia, New Zealand, China, Holland… • Family houses back in use for families • Integrate housing, health and social care

  19. ARCO • Associated Retirement Community Operators • Launches March 2013 • Private and not-for-profit

  20. Nick.Abbey@extracare.org.uk 02476 506011 www.extracare.org.uk

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