Hightown Housing Association has built over 1,000 new affordable homes in the two year period from April 2017 to March 2019.
Operating mainly in Hertfordshire, Buckinghamshire and Bedfordshire, Hightown built 827 new affordable homes for rent and 220 homes for shared ownership. The homes are spread over 15 local authority areas, with most homes built in Dacorum, Aylesbury Vale, Luton, St Albans and Chiltern.
Hightown expects to build a further 1,000 new affordable homes over the next two years (up to March 2021). Around 800 of the homes will be for rent and 270 for shared ownership.
The housing association spent around £120 million (gross figure) on its development programme in 2018/19 - offset by £21 million in shared ownership sales receipts and a £13 million social housing grant. Around £18 million of the expenditure came from Hightown’s revenue surplus on an annual turnover of £84 million.
David Bogle, Hightown’s Chief Executive said:
“There is huge demand for affordable housing in Herts, Bucks and Beds and we are delighted to have been able to build up our capacity over several years so as to deliver a substantial annual development programme averaging over 500 homes a year. We do not build for market sale or market rent so all of the homes are affordable. It is central to our social purpose to be helping to tackle the homelessness crisis through building new homes and providing high quality support services.”
Hightown owns and manages over 6,400 homes and provides care and support services to over 850 vulnerable and disabled people.