Tag: National Housing Trust

Home truths on the waterfront

Western Harbour development will ease city’s housing crisis

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The National Housing Trust initiative (NHT) will deliver almost 900 affordable homes for rent in Edinburgh, Social Justice Secretary Alex Neil revealed at Western Harbour yesterday.

The City of Edinburgh Council has already delivered more than 400 NHT homes with hundreds more in the pipeline. The latest 234-home development at the Western Harbour brings the total number of NHT homes approved across Scotland to more than 2,000.

The Scottish Government’s financial innovation is unlocking strategic sites for housing development across the country, delivering more homes for less public investment.

The City of Edinburgh Council, Scottish Futures Trust and the Forth Ports Group are spearheading the Waterfront development, which is being built by Hart Builders.

Mr Neil said: “The contribution from innovative financing approaches, such as NHT, using government guarantees, loans, grant recycling and new sources of private funding is substantial and growing.

“Edinburgh has wholeheartedly embraced the NHT, the first guarantee-based model for housing in the UK, as one that can help ease the city’s housing pressures.

“People in the capital will have access to a quality home at an affordable rent, and the NHT model allows them to save for a mortgage whilst staying in the home that they may be able to buy.

“NHT, which is providing affordable homes without the need for grant subsidy, has reached a milestone with over 2,000 homes approved for construction.

“More generally, we have exceeded our target to deliver 30,000 affordable homes in this Parliament including over 20,000 homes for social rent.

“Our new target to deliver 50,000 affordable homes over the next five years is bold, credible and affordable. This is a 67 per cent increase in completed homes over the next five year period.”

Councillor Norman Work, City of Edinburgh Council said: “The City of Edinburgh Council is delighted to work in partnership with Scottish Government, Forth Ports and Scottish Futures Trust in enabling this development, which includes the 2000th National Housing Trust home across Scotland.

“The Council has committed over £100 million for NHT in Edinburgh, and this will deliver almost 900 affordable homes throughout the city. Edinburgh has a shortage of affordable housing and this 234-home development will make a significant contribution towards the regeneration of Western Harbour and creating an integrated sustainable community.

“Edinburgh is a growing city and meeting the need for new, good quality and good value homes is a major part of the Council’s Capital Coalition commitment to ensure that the city’s residents are well housed. The Council will continue to seek innovative funding solutions through collaborative working partnerships to deliver affordable homes”.

Christa Reekie, commercial director at the Scottish Futures Trust (SFT), explained: “Today’s announcement clearly illustrates the huge impact SFT’s award-winning National Housing Trust programme is having and further consolidates the partnership between the City of Edinburgh Council and SFT even further.”

Colin Macdonald of Hart Builders, part of the Cruden Group said: “We are delighted to be working with Forth Ports, Rettie & Co., the Scottish Government, Scottish Futures Trust and City of Edinburgh Council to deliver this development at Western Harbour.

“It will not only provide a secure and sustainable environment, but will also enable Hart to maintain current employment and training opportunities over the lifetime of the construction period.”

Nick Watson, Director at Rettie & Co. said: “Over the last three years Rettie and Co has enabled and coordinated the delivery of much-needed new rental stock for the City of Edinburgh delivering 296 new units.

“We are delighted to have been working constructively on the Western Harbour development with Forth Ports, Cruden, Hart Builders, the Scottish Government, Scottish Futures Trust and City of Edinburgh Council.”

New homes for Western Harbour

Housing Minister hails nearly 100 new homes for rent in Leith

leith housingNearly 100 new affordable homes are to be built at Western Harbour in Leith through the ground-breaking National Housing Trust initiative (NHT), the Housing Minister has revealed.

Margaret Burgess made the announcement during a visit to Scotland’s largest NHT development in Edinburgh this morning.

The recently completed 145 home development at Salamander Place marks the completion of all 422 homes built under the first round of NHT procurement in the Capital.

Mrs Burgess said: “I am delighted to announce the latest deal under the National Housing Trust initiative, which will deliver 94 brand new and affordable homes to rent in Edinburgh.

“Developments such as the one planned for Western Harbour, and the new 145 home development at Salamander Place, not only provide a boost for our construction sector and wider economy, but also offer people and families the chance to rent a new home at affordable rates.

“I have met NHT tenants all over Scotland and have heard how delighted they are with their new, high quality homes.

“NHT continues to go from strength to strength. The initiative is on track to deliver over 2,000 much needed new homes in communities across the country – all for very little taxpayers’ money.

“Despite Westminster’s cuts to our capital budget the Scottish Government is doing everything possible to stimulate growth, maximise our investment in housing and deliver on our target of 30,000 new, affordable homes over the lifetime of this Parliament.”

The original NHT model allows developers and councils to jointly fund the purchase of new homes, with local authority loans to the initiative being underwritten by the Scottish Government.

Under the original NHT model, homes are available for rent at below market rates for five to 10 years before being sold, with tenants being given priority to buy at the end of the rental period.

NHT logoCouncillor Cammy Day, Housing Leader for the City of Edinburgh Council, said: “This new development at Salamander Place is an excellent example of how the Council is supporting housing developers to turn derelict sites into modern new build homes for rent at affordable prices. The Council provided over £15m in loan funding for these homes and is committed to securing more developments like this.”

Stuart Paterson, Chief Financial Officer of Forth Ports Limited, on whose land the new NHT development at Western Harbour would be located, said: “We are pleased to be partnering with the City of Edinburgh Council, the Scottish Futures Trust and the Scottish Government in this NHT initiative at Western Harbour.

“Whilst we are a port operator first and foremost, when this was brought to us by Rettie & Co, who helped co-ordinate the deal, we saw an opportunity to help towards the regeneration of the community by providing more housing in the Leith area. Other areas around the Port of Leith, including Britannia Quay, are and will remain operational land.”

Angela Linton, Chief Executive of Hillcrest Group, the Housing Association that manages the Salamander Place development, said: “The NHT model allows us to market a different tenure of housing to the traditional affordable properties offered by Hillcrest Housing Association.

“Through Northern Housing Company, part of the Hillcrest Group, we have delivered mid-market rent properties, making a much needed injection of housing at this level.

“Many people find themselves not qualifying for affordable housing but at the same time not being able to afford the private market, so we are grateful for the Scottish Government support which helps us to deliver this project at Salamander Place.”

Christa Reekie, Commercial Director at the Scottish Futures Trust, said: “SFT’s work in developing and managing the innovative NHT programme is helping to deliver affordable rented housing in areas where there is a shortage.

“The City of Edinburgh Council has fully embraced the NHT initiative and so far has over 420 NHT homes across five sites in the City, with the construction of an additional 94 homes starting soon. The Salamander Place site is the largest across the whole of Scotland and reflects the huge positive impact the NHT programme is having on people’s lives.”

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