Social housing providers Guinness and Stonewater have today (25th March) signed their Strategic Framework Agreement with Homes England.
The government agency is to provide £224m of funding for the two organisations to begin building 4,500 affordable homes by 2022.
The funding is said to enable Guinness and Stonewater to “extend and accelerate” their development plans, bringing forward the building of affordable and social housing.
Because of grant funding from Homes England, both partners have said they will be able to enter into longer-term commitments to buy additional land, targeting areas of greatest housing need.
Nicholas Harris, CEO of Stonewater, said: “We’re delighted to have officially completed the documentation for our partnership with Homes England and Guinness.
“In politically uncertain times, funding from Homes England adds to Stonewater’s already significant development programme and brings us closer to our vision of everyone having a place to call home.
“We welcome the government’s commitment to tackling the housing crisis and this is a great example of how collaboration within the sector can help deliver that promise.
“We look forward to contributing support the UK economy over the long term, building much needed homes, as well as safeguarding and creating jobs.”
Catriona Simons, CEO of the Guinness Partnership, said: ‘’Guinness is delighted to be working with Homes England and Stonewater.
“Our vision is to create great homes, where people are proud to live.
“This funding means we can extend our development programme and do more to fulfil that vision.
“We welcome the government’s commitment to working with housing associations to address the housing crisis, and we are pleased to be working with Stonewater to make a real difference.’’
Speaking 0n the announcement, Jackie Jacob, General Manager Housing Programmes, Homes England, added: “We have now secured 23 partnership deals with 28 housing associations who share our ambition to build the homes the country needs, totalling £1.74bn of investment.
“This partnership with Guinness and Stonewater will deliver a range of much-needed affordable housing across England, including homes for social rent, supported living and shared ownership.”