Housing association mulls 15 ideas in bid to diversify

Published by 24publishing for 24dash.com in Housing and also in Communities, Local Government

A housing association is to look at 15 different ideas to diversify in a bid to generate income for new supply, improve services for residents and ensure the organisation retains and attracts quality staff.

Dave Willis, chief executive of Wellingborough Homes – which owns and manages more than 4,500 properties – told 24housing that staff had originally produced 60 ideas in a "barrier free thinking" session, including managing caravan parks and even running music concerts.

Mr Willis said the housing association used a decision framework which dismissed those ideas, adding that new areas of business had to fit in with the organisation’s ethos and offer a social or financial return on investment.

Two of the 15 ideas that will be considered by the board with a view to being worked up in more detail over the next six months include moves into market rent and building and running a scheme offering employment-related training.

Mr Willis said: "We have a planning event in October with the board and then a six-month period of working up opportunities – doing the reality check bit, then it will shape our corporate plan from 2014 going through to 2017."