Barking and Dagenham's housing company, Reside, was used as a model for how local authorities can establish their own body to get homes built at a masterclass organised by 3Fox International in central London yesterday (17 June).
Reside is perhaps one of the most advanced housing companies out of any local authority in the country, with 477 units built and 144 more to be completed by October.
Andrew Sivess, group manager for housing and investment at the authority, spoke about how the company was established and the plans to move it to the next phase: “We will now think about growing our vehicle on to a more unique structure, where we will develop, hold and manage,” he said.
A recent survey of 112 local authorities conducted by 3Fox International revealed that over 10 per cent (14 councils) have set up housing companies and 37 more are considering doing so. In other words, over half of all councils are engaging in this new approach to housebuilding. The success of established council housing companies suggests that the development model will be taken up by a large number of councils.
The City of London Corporation is about to buy Barking Power Station site in east London for around £125 million, according to Property Week.
A £25 million grant for Barking and Dagenham Council will help it support new housebuilding over the next four years.
Councillor Darren Rodwell, the leader of Barking and Dagenham Council, has welcomed the decision to approve the proposed Beam Park…