Press Release – BME London and L&Q join forces to unlock smaller housing associations’ development capacity. (click here for full press release)
Many Housing Associations (HAs) of all sizes wish to develop more. However, the current operating environment challenges those seeking to develop, and in particular, smaller HAs.
A group of BME London Housing Associations are looking to work with L&Q as part of a development strategic partnership to help unlock smaller HAs’ development capacity and bring forward a range of much needed new high quality affordable homes.
The BME London HAs and L&Q have signed a Strategic Partnership Agreement (SPA), which outlines the key principles of the collaboration. This partnership aims to achieve the development of at least 200 new Affordable Homes by March 2022, increasing supply in and around London and addressing the housing need that is prevalent in the capital…
Some smaller HAs have not had an active development programme in recent years due to a number of factors such as financial pressures and lack of development skills, and the hope is that this collaboration will encourage these HAs to start developing again. L&Q will take a lead role in assisting BME London HAs in fulfilling this strategic objective, using its internal resources and expertise in the market.
This initiative will allow smaller HAs to utilise the knowledge and expertise of a larger HA to develop more. The initiative will also help promote closer working relations: ones that benefit staff and tenants and help provide longevity to the project.
Gina Amoh, Chief Executive of Inquilab and Chair of BME London said “Collaboration with a larger partner will help smaller HAs achieve economies of scale, ensure better risk management and realise value for money. We want this to be a flagship example of how larger HAs and the GLA can help support smaller HAs to develop and help increase supply of affordable housing.”