Isos secures £5.3m for affordable homes in the North East

Tuesday 17th January 2012

Leading North East Housing Association Isos has won a four year, £5.3m funding deal for 275 homes with the Government's housing and regeneration agency, the Homes and Communities Agency (HCA).

Under the new Affordable Housing Programme (AHP), Isos will build the homes for rent and shared ownership, at both urban and rural sites right across the North East region.

Isos currently owns and manages just over 12,000 homes in the North East, from Berwick in the north to Stockton in the south.

Several development schemes are still being finalised, but Isos has confirmed the following new schemes:

- 34 homes in a new phase of the Mandale Park regeneration scheme in Stockton
- 32 homes in Wallsend town centre and 15 on the new Covers estate
- 19 homes in phase 5 of the Cleadon Park regeneration scheme in South Shields
- 16 bungalows in Newbiggin Hall, Newcastle
- 14 homes as part of a new David Wilson Homes estate in Washington
- 7 new houses in Hexham, Northumberland

On top of the new homes being added to Isos's stock, the association also leads a development partnership with smaller housing associations in the north, which has won a further £2.5m to build 115 new homes. The partnership includes Durham Aged Mineworkers Homes, Impact Housing Association, Eden Housing Association (both in Cumbria), and York Housing Association.

Michael Farr, assistant director of investment for Isos Housing, said it was important for social landlords like Isos to keep building homes at a time when there are ever more people in need of good quality housing:

"We are glad to be able to keep developing new homes, when the overall amount of funding available is much reduced from previous years. We would like to build still more properties, to house even more families, and will be exploring every opportunity to do that."

Isos is working closely with the HCA as a significant contributor to the Affordable Homes Programme in the North East region. Nationwide, the programme is expected to deliver up to 80,000 new affordable homes by 2015.

Bill Carr, area manager for the HCA in the North East, said:

"The signing of this agreement is great news for those living where Isos will be building these homes. The new homes will provide not only more houses throughout the North East region, but also homes that are more suited to modern living."

Posted by Jonathan.gibbs@codersltd.com for Isos Housing