Charitable foundation plans to set up a housing association

  • The Dolphin Square Foundation, an independent provider of affordable housing, is planning to register as a housing association for funding and tax purposes.

    Real Estate Icon

    This charitable establishment recently saved the tenants of a London estate, New Era, from eviction. 

    Chief Executive of Dolphin Square, Jon Gooding, explained that it was planning the change so it could take advantage of cheap funding and financial gains that only housing associations had access to, Inside Housing reports. 

    It is working on the development of 1,000 homes for low and middle income Londoners within commuting distance of Westminster by 2020 - most of these homes will be at intermediate rents.

    Although the main organisation will continue to operate as a charity, it will have a non-profit housing association under its name and will provide management services to all of its homes.

    Jon Gooding stated, "We could see that [housing associations] are a more attractive development partner for major private sector developers. They also have access to funding and finance on terms that wouldn't be available to us, and are exempt from the Community Infrastructure Levy [a development tax imposed when planning permission is granted]".

    The charity has risen to prominence recently as it agreed to buy the New Era estates in Hoxton from a US investor who was planning to increase rents and evict the tenants.

    However, Dolphin Square is currently agreeing a new affordable rent arrangement with the tenants and is hoping to raise around £160m to complete its development plans. 

    What do you think of this? Tweet us your comments @suppsolutions

    Image source: http://www.freeimages.com/assets/5/41483/real-estate-icon-1408323-m.jpg

Related articles

  • Read More

    THE ONS PLANS TO CHANGE THEIR DECISION TO MAKE HOUSING ASSOCIATIONS PUBLIC BODIES

    According to reports by 24 Housing, the ONS said the following:Gavin Smart, Chartered Institute of Housing's deputy chief executive also said:"Although we have been expecting this decision for some...

  • Read More

    RECENT ANALYSIS FINDS THAT THE HELP TO BUY SCHEME HAS ADDED TO THE INFLATION OF HOUSE PRICES

    The analysis of the Help to Buy Scheme revealed the following:The chief executive of Paradigm Housing Group, Matthew Bailes, said:" ... clearly, it worked well for developers, and for providers, it...

  • Read More

    A NORTH WALES COUNCIL REVEALED THEIR WAITING LIST FOR NEW HOMES HAS REACHED BREAKING POINT

    The north Wales Council revealed their waiting list for new homes has reached "breaking point".According to Clare Budden, Flintshire Council's community enterprise chief officer said:"There are...

  • Read More

    HOMELESSNESS POLICY IS UNDER REVIEW IN A NORTHAMPTONSHIRE COUNCIL

    Kettering Borough Council has amended its letters to homeless residents to let them know of their right to request a temporary accommodation review.According to an ombudsman, Michael King:"People in...

  • Read More

    FINANCIAL CONSTRAINTS HAVE CAUSED THE CLOSURE OF MANY CHILDREN AND YOUTH CENTRES

    Local Government Association (LGA) made the following findings:Chair of the LGA's children and young people board, Richard Watts, said: "The reality is that services for the care and protection of...

  • Read More

    RESIDENTS OF BUILDINGS IN LEDBURY ESTATE, SOUTHWARK, SOUTH LONDON WILL BE MOVED OUT TEMPORARILY

    The buildings in Ledbury Estate in Southwark have been constructed in a similar way to Ronan Point, a tower block in Newham which collapsed in 1968 as a result of a gas explosion, killing three. An...

  • Read More

    THERE IS A DECLINE IN THE HOUSING MARKET IN LONDON AND OTHER PARTS OF THE SOUTH EAST OF ENGLAND

    The Royal Institution of Chartered Surveyors (Rics) made the following findings:Chief Economist at Rics, Simon Rubinsohn:"Sales activity in the housing market has been slipping in the recent month...

  • Read More

    REPORT FINDS THAT PEOPLE ARE INTENSELY SUFFERING FROM LACK OF AFFORDABLE HOMES IN SCOTLAND

    According to the report by "Shelter":Shelter's deputy director, Alison Watson, said:"This report shows the disproportionate impact of Scotland's housing crisis on young people and private renters who...

  • Read More

    NEW REPORT BY THE PUBLIC ACCOUNT COMMITTEE IN WALES COMMENDS HOUSING ASSOCIATIONS

    The report which was put together after nine months of inquiries stated the following:Nick Ramsey, Chair of the Public Accounts Committee, said:"Generally, we found governance and regulation within...

  • Read More

    LONDON COUNCIL URGES THE GOVERNMENT TO MAKE MEASURES TO END LETTING FEES FOR PRIVATE RENTERS

     The London council say urgent action is needed because the government has not provided "a clear timescale to introduce its own measure", Letting Agent Today, reports.Last year, the government had...

Support Solutions 5th National Housing Support & Social Care Conference 2014 Good organisation from beginning to end. Excellent keynote speaker. Relevant and important topics for discussion which were to everyone's advantage within the supported housing sector. B.H - Stevenage Haven

 

Briefing Signup