Residential Secure Income acting through ReSI Housing, its wholly-owned For-Profit Registered Provider of Social Housing has been awarded Investment Partner status by Homes England, the U.K. government public body that funds new affordable housing in England. The new status allows ReSI to access Homes England’s €5.04bn (£4.7bn) Shared Ownership and Affordable Homes Programme “SOAHP” 2016-21.
ReSI Housing is already an Investment Partner with the Greater London Authority and, as previously announced, has secured €6.4m (£6m) of a government grant to date to support the ongoing delivery of ReSI’s shared ownership portfolio in London. Investment Partner status with Homes England extends ReSI Housing’s ability to access grant funding to include schemes outside of London and bring forward much needed additional Affordable Housing at the national level. Both the new Homes England and the GLA programmes provide government grant funding as a capital contribution towards new sub-market rented housing such as shared ownership, affordable rent and social rent.
Alex Pilato, CEO of ReSI Capital Management, commented: “Achieving Investment Partner status from Homes England allows ReSI to help them bring forward much needed new affordable housing right across the UK, working with national House Builders in allocating funds efficiently.”