New Build Opportunities & Challenges pdfs/Presentations/NFA 2014/Paul... · A Presentation to NFA Conference Paul Stephenson, CEO 16 July 2014 . Providing excellence New Build –

Providing excellence

New Build – Opportunities &

Challenges

A Presentation to NFA Conference

Paul Stephenson, CEO

16 July 2014


New Build – Opportunities & Challenges

How it Started:

3* ALMO following Audit Commission Inspection – January 2007

Asset Management Strategy identified regeneration potential

CBH aspiration to develop and own stock

Mandate from CBC in March 2007 for St Paul’s Regeneration

Inclusion of ALMOs in 2008 – 2011 HCA Affordable Homes Prog.



Initiation Stages – Phase 1: ALMO Owned Homes

Secured HCA Investment Partner status

Sourced Development Agent for access to Consultant/Contractor

Frameworks and IMS

Secured grant allocations of £3.38m for CBH for 2 schemes at social

Rents and with part affordable home ownership

Achieved social housing ‘Manager’ status from Audit Commission



Whilst in the background:

Secured CBH Board and CBC Officer, Cabinet & Council support

Appointed Consultants and Contractors from approved Frameworks

Progressed schemes through consultation and planning

Agreed developments as CBH homes funded through HCA grant, free land

from CBC, Capital subsidy (CBC) and affordable loan (PWLB)

Completed legal documentation and secured approvals to commit to site



Brighton Road

8 Unfit non-traditional houses

7 let and 1 in private ownership

Acquired freehold interest of single private property

Re-provided 12 houses (2b & 3b) and 4 bungalows (2b)

Introduced highway improvements


Brighton Road





St Paul’s Phase One

Neighbourhood Renewal Assessment

Clearance & redevelopment of 2 sites

Split into 2 Phases due to market in 2008

44 homes cleared under Phase 1

30 new houses and flats for social rent and 18 houses and flats for

affordable home ownership



Transformational Improvements

Uplifting retained homes

Works to facades and external environment

Design styling to match the new build

Full participation in first phase by 93 households (including 13 in private

ownership funded by CBC)

Providing excellence St Paul’s Regeneration – Phase 1


Providing excellence 48 New Homes





Building on Success – Phase 2: More ALMO Homes

Approval for more CBH homes – now for affordable rent

Unsuccessful 2008 - 2011 bid, but referred by HCA to DPP

(Delivery Partner Panel)

Tendered further 3 schemes – secured Developer Grant for St Paul’s

Phase 2 and pre SOS secured HCA grant for Garage Sites Ph.1

Progressed both schemes on same funding basis


Garage Sites


Garage Sites


St Paul’s Phase 2


St Paul’s Phase 2



A Change of Direction: The Future

Utilisation of HRA freedoms

Commitment of Right-to-Buy receipts

Ongoing active asset management

HRA capital and revenue surpluses

Keeping the returns in-house!



Phase 3 Developments:

Initial 3 projects as first new homes for CBC

Funded through HRA subsidy, RTB retained capital & Affordable Loan (PWLB)

Potentially at affordable rents

Further development pipeline covering:

• Unfit non-trads

• Sheltered housing investment

• CBC land assets within Joint Core Strategy



Finance

Flexibility within HRA Headroom

Accumulated receipts (RTB)

Availability of long term finance

Commitment to reinvest surpluses across stock, services and

development of new homes



Partnership

CBC and CBH of like mind

Supportive Executive and Councillors

Joint Programme Group to monitor and manage regeneration and

investment

Extending perspective further into future



Challenges

Being clear about CBH role

Best use of reserves and available capital

Affordability (AR vs SR)

Building upon success



Recognition for St Paul’s Phase One:

Winner RTPI Awards 2014 – Exemplary Planning to Deliver Housing

Winner RTPI Awards (South West) – Planning Excellence

Winner RTPI Awards (South West) – Overall Winner

Cheltenham Civic Awards 2013 – Improvements to Existing Homes

Cheltenham Civic Awards 2014 – New Build Social Housing

Highly Commended – Housebuilder Awards 2013

Highly Commended National Housing Awards 2013

Documents

New Build Opportunities & Challenges pdfs/Presentations/NFA 2014/Paul... · A Presentation to NFA Conference Paul Stephenson, CEO 16 July 2014 . Providing excellence New Build –