Kier win £42m HCA contract to build 1,700 affordable homes
Construction company Kier has secured more than £40 million in Government funding to build affordable homes over the next four years.
The £41.9 million Homes and Communities Agency funding will see the developer construct just over 1,700 shared ownership homes in England by 2021.
The contract is a part of a £1.28 billion first round allocation from the Shared Ownership and Affordable Homes Programme (SOAHP) 2016 to 2021, which is now worth £7 billion having received a £1.4 billion boost in November's Autumn Statement.
Having launched a range of funding and delivery innovations designed to stimulate and facilitate public sector house building over the last 12 months, the allocation reinforces Kier’s position as one of the country’s key developers, says John Anderson, executive director at Kier Living.
“Kier Group has been operating in the multi-tenure housing market for over 70 years and this allocation of grant is testament to the leading role we now play in public sector housing delivery," he said.
"This success is not only built on an enduring commitment to the sector and our public sector partners, but also on our continual investment in innovation and market stimulus; unlocking new ways to build new homes.
"For example last year we announced our collaboration with Cheyne Capital and the Housing Growth Partnership to develop the £1bn New Communities Partnership with and end to end turnkey solution for local authorities.
“We welcome the opportunities that this first allocation of SOAHP brings. It is an encouraging indicator of what we may look forward to in the Housing White paper over the coming weeks.”