02.04.12
Affordable Rent programme to deliver 987 new homes
The first two local authorities have signed contracts with the Homes and Communities Agency (HCA) to deliver homes under the Government’s £1.8bn Affordable Rent programme.
The London boroughs of Barking and Dagenham will deliver 762 homes through a grant of £18.3m and Hillingdon will provide 225 homes with a grant of £3.4m.
The programme gives councils the freedom to charge rents at up to 80% of the market rent on new homes, meaning they are expected to be able to borrow more private finance.
The Government hopes to provide 80,000 homes by 2015 through this programme.
Other providers to sign contracts with the HCA last week include Almshouse Consortium Limited – for London-based Almshouses, Bedfordshire Pilgrims Housing Association, Guildhouse UK Limited, Logic Homes and Lovell.
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