Developments to come from housing deal

Michael Farr
Michael Farr

A LEADING housing association in the region has won a multi-million pound funding deal which will include two new developments in North Tyneside.

Isos has been awarded a four-year, £5.3m deal for 275 homes from the government’s housing and regeneration specialist, the Homes and Communities Agency (HCA).

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

The company currently owns and manages more than 12,000 homes across the region, and several development schemes are still being finalised.

However, the new programme will include 32 homes in Wallsend town centre and 15 on the new Covers estate.

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.

Nationwide, the programme is expected to deliver up to 80,000 new affordable properties by 2015.

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.