Vistry Group has secured £350m from the Government’s £39bn Social and Affordable Homes Programme to support the delivery of more than 3,000 affordable homes.
The housebuilder has been reconfirmed as a Strategic Partner under the programme and received the largest direct grant award available during its first allocation phase.
The £350m award is significantly higher than the funding Vistry received during the equivalent stage of the previous Affordable Homes Programme and will allow the group to begin deploying funding against schemes during the current year.
Vistry says it has an established pipeline of projects where the funding can be used immediately.
WIDER PARTNERSHIPS
The group also expects to deliver additional homes through partnerships with other Strategic Partners, mayoral authorities and councils receiving funding from the initial £9.58bn of allocations.
Vistry already works with 29 of the other 32 Strategic Partners announced under the programme and operates across all of the Established Mayoral Strategic Authorities included in the Government’s announcement.
“Established track record.”
Adam Daniels (main picture, inset), Chief Executive of Vistry Group, says: “Vistry has received direct grant funding awards under successive affordable homes programmes for nearly twenty years, and this award reflects our established track record and commitment to delivering much needed affordable homes in collaboration with Homes England and our partner providers.
“We are delighted that Homes England has made this significant announcement that will create over 73,000 new homes and provide Vistry, its partners and the wider sector with a much-needed stimulus.
“We already operate in all of the Established Mayoral Strategic Authorities and have established relationships with 29 of the 32 other strategic partners announced this morning. We look forward to continuing to work with Councils and Homes England to meet local ambitions to increase housing supply at pace.”
Under the 2021-26 Affordable Homes Programme, Vistry received £278m of Strategic Partner funding to support more than 3,500 additional affordable homes.
