Affordable Rent: Adactus claims HCA's first 'early start' cash

Published by Julien Tremblin for 24dash.com in Housing

Adactus Housing claims to be the first housing association in the country to receive 'early start' cash under the Homes and Communities Agency's (HCA) Affordable Homes Programme.

The HCA’s scheme allows providers to receive cash up front for new-build projects that start on site before 31 March 2012.

The payment has been made on a scheme of 16 two-bedroom apartments at Flixton in Trafford, near Manchester.

The HCA's cash incentive for providers involves an interim payment of 75% once start on site has been confirmed, with the remaining 25% payable at completion.

Richard Ingram, Assistant Director of Development for Adactus, said:  “We are delighted to have been the first association in the country to achieve a start on site under the Affordable Homes Programme.  Our progress on this scheme reflects our close working relationship with Trafford Council.”

Adactus says it was also the first housing association in the North West to sign a contract to deliver homes under the programme.

Deborah McLaughlin, Executive Director North West at the HCA, said: “This agreement is excellent news as it will lead to the delivery of vitally important new homes and make a great difference to the lives of many families in Trafford.

“We have worked closely with Adactus over recent months to make sure that the programme brings the maximum benefit for local people. But in many ways, the hard work starts now - and we will be focused on ensuring that people in the North West see the benefits of our investment over the next four years.”

Trafford Council's Executive Councillor Michael Cornes said: “This is great news for Trafford and people on the housing waiting list who need affordable rented homes. I am impressed that Adactus has made a start on site so quickly.

“The delivery of affordable, high quality homes is an important priority for the Council and this scheme demonstrates how effective our partnership is with the HCA and Registered Providers in delivering new homes where they are most needed.”

Practical completion for the scheme is scheduled for January 2013.