A North East housing association has announced plans to invest over £1 billion in homes and neighbourhoods over the next five years.
Thirteen waved this whopping wad as it launched its new strategic plan for 2019 to 2024. The money will be spent improving existing homes, building new ones, making improvements to neighbourhoods and to the organisation’s support services.
Furthermore, the Stockton-on-Tees based organisation says it help 2,000 people into training or employment, while some 300 local residents will be offered apprenticeships. It will also look to secure up to £6 million in additional welfare benefits for its tenants.
“Our customers are at the heart of what we do,” said Ian Wardle, Thirteen’s chief executive. “Two of our top priorities are delivering quality places to live and a great customer experience. In the past year alone, we have invested £31 million into improving our neighbourhoods, £29 million into developing new homes and carried out over 150,000 repairs as part of an ongoing programme.
“We will now deliver a £1 billion investment over the next five years to improve our customer’s homes, their local neighbourhoods and their services, as well as delivering new affordable homes.”
Headline figures from Thirteen’s 2019-2024 investment plan include:
- £411 million into improvements to up to 20,000 existing homes as part of an ongoing programme. This includes new roofs, kitchens, bathrooms, windows, doors and energy efficient boilers, with £5 million of it for a variety of home adaptations to help older people stay in their own homes for longer
- £393 million to build 3,000 affordable and shared ownership homes, including £58 million to build 700 new independent living places for people with specialist needs
- £159 million into Thirteen services to support neighbourhoods and into neighbourhood improvements, following a number of successful pilot schemes. This includes employment and training initiatives for young people, money advice and help for people in crisis
- £59 million to build 298 market sale homes, with profit reinvested back into its social purpose
- The investment will create up to 6,000 jobs from construction investment and 300 apprenticeships for local people and by 2024, Thirteen aims to have 37,000 properties. It currently has around 34,000
Wardle added: “We will continue to listen to our customers and improve what we do face-to-face and online. Our ambitious construction plans will create thousands of jobs and hundreds of apprenticeship opportunities that will benefit local people. It’s a very exciting time for us, our customers and for the region as a whole.”