Sunderland Housing Group, one of the country's largest transfer associations, has launched a £250m programme to develop 4000 homes.
Six months ago, SHG secured finance from a consortium headed by Royal Bank of Canada to build the first non-housing association social housing in the city for 30 years – the largest programme in the country.

Under the five-year scheme, 6000 outdated, low-demand properties will be demolished and SHG will use its original £352m loan facility to upgrade its remaining 29,000 homes.

Peter Walls, group chief executive of SHG, said: "It's unique. Because of the strength of the group, we were able to go the funders with a good business plan.

"Most stock transfers are very balanced about delivering improvements."

Walls denied the programme would simply create new homes in low-demand areas. "There is startlingly low demand for poor housing, but there will be extravagant demand for our new product," he said. "Low demand isn't a generic Northern issue."

The bulk of the homes will be socially rented, with others sold on the open market to help create sustainably mixed communities.

Designed by Newcastle architect Ian Darby Partnership, the homes are energy-efficient, use sustainable materials and include en-suite bathrooms.

Source

Housing Today