Vistry Group has been reconfirmed as a strategic partner and secured a £350m direct grant award under the first allocation of funding made available as part of the government’s £39bn Social and Affordable Homes Programme (SAHP).
The funding will enable the delivery of more than 3,000 affordable homes, significantly more than what was possible under the first phase of the last programme.
Vistry has an established pipeline and has identified immediate opportunities to deploy the grant funding to deliver affordable housing schemes within the current year.
Alongside this, Vistry will deliver additional homes by working in partnership with other strategic partners, established mayoral strategic authorities and councils as they commit funding to their programmes as part of the initial £9.58bn of allocations.
Adam Daniels, chief executive of Vistry Group, said: “Vistry has received direct grant funding awards under successive affordable homes programmes for nearly 20 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.”
