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Incommunities - the district’s biggest social housing landlord - has today (30 March) announced a £48.9 million investment which will deliver much needed new affordable homes and support the modernisation of hundreds more properties for the benefit of its tenants.

It includes a £40 million finance agreement with Barclays PLC aimed at building on the £280 million so far invested by Incommunities over the last five years to modernise thousands of tenants’ homes and build new ones.

Under the agreement with Barclays PLC £10 million is set to go into supporting the construction of 144 new homes across the district over the next two years.

Funding approval totalling £8.9 million has also been agreed by the national housing and regeneration agency, the Homes and Communities Agency and the Tenant Services Authority, which will kick start building work on eight new sites over the next few weeks.

These cover Ravenscliffe (45 homes) Bridgegate Way in Idle (6 homes); Burnham Avenue, Bierley (9 homes); Crawford Avenue, Odsal (10 homes); Otley Road, Barkerend (19 homes); Scholemoor (21 homes), Springwood Gardens, Parkside (15 homes) and Woodhouse in Keighley (19 homes). These homes will be available for rent.

Incommunities has already built 115 homes for rent and for sale through shared ownership in the district and more than 120 are currently underway.

An additional £30 million (of the £40 million) is being invested in Incommunities’ modernisation programme which has so far seen over 14,000 local homes successfully improved to the Bradford Standard, a level in excess of the Government’s Decent Homes Standard.

This investment will include fitting new kitchens and bathrooms and rewiring work to over 1,000 homes. These include further phased improvements to homes at Baildon, Ravenscliffe, Thorpe Edge, Swain House, Woodhouse and Guardhouse in Keighley and brand new refurbishment schemes at Bracken Bank in Keighley and Addingham.

Incommunities estimate the new investment will safeguard and/or create over 600 local construction jobs over the next two years.

Geraldine Howley, Incommunities Group Chief Executive said: “We are delighted to have agreed this major investment working in partnership with Barclays Bank and secured funding approval from the Homes and Communities Agency and Tenant Services Authority. It will enable us to deliver more new affordable homes for the benefit of local families.

“As the area’s biggest social landlord we are committed to helping to meet the growing demand for high quality social housing and provide homes of 1st choice.”

“We are also fulfilling the promise we made at Stock Transfer in 2003 to modernise our existing stock for the benefit of our customers and a large part of this new investment will go towards continuing to make improvements to peoples homes and their quality of life.” 

Martin Smith, Incommunities Group Chairman said: “This latest investment is good news for our existing customers and people looking for a new affordable home. It is also a major boost for the local jobs market, the construction supply chain and the district’s economy.”

“It is terrific news for the whole district set against the difficult economic climate facing many people and the housing market in particular.”

David Glover, Relationship Director, Barclays Commercial Bank said: “We are delighted to continue our support for the Incommunities Group and we look forward to developing our relationship with them and helping to fulfil their business ambitions.

“There has never been a more important time for social housing and this funding will enable Incommunities to continue their strategy to deliver better facilities to their tenants.”

Bradford Council's Executive Member for Regeneration and Economy, Coun Adrian Naylor, said: "This is fantastic for residents across the district who will see further improvements to their homes.

"Creating as many as 600 local jobs would always be welcomed but in the current economic climate it is even better news and will give the Bradford economy a big boost."

It includes a £40 million finance agreement with Barclays PLC aimed at building on the £280 million so far invested by Incommunities over the last five years to modernise thousands of tenants’ homes and build new ones.

Under the agreement with Barclays PLC £10 million is set to go into supporting the construction of 144 new homes across the district over the next two years.

Funding approval totalling £8.9 million has also been agreed by the national housing and regeneration agency, the Homes and Communities Agency and the Tenant Services Authority, which will kick start building work on eight new sites over the next few weeks.

These cover Ravenscliffe (45 homes) Bridgegate Way in Idle (6 homes); Burnham Avenue, Bierley (9 homes); Crawford Avenue, Odsal (10 homes); Otley Road, Barkerend (19 homes); Scholemoor (21 homes), Springwood Gardens, Parkside (15 homes) and Woodhouse in Keighley (19 homes). These homes will be available for rent.

Incommunities has already built 115 homes for rent and for sale through shared ownership in the district and more than 120 are currently underway.

An additional £30 million (of the £40 million) is being invested in Incommunities’ modernisation programme which has so far seen over 14,000 local homes successfully improved to the Bradford Standard, a level in excess of the Government’s Decent Homes Standard.

This investment will include fitting new kitchens and bathrooms and rewiring work to over 1,000 homes. These include further phased improvements to homes at Baildon, Ravenscliffe, Thorpe Edge, Swain House, Woodhouse and Guardhouse in Keighley and brand new refurbishment schemes at Bracken Bank in Keighley and Addingham.

Incommunities estimate the new investment will safeguard and/or create over 600 local construction jobs over the next two years.

Geraldine Howley, Incommunities Group Chief Executive said: “We are delighted to have agreed this major investment working in partnership with Barclays Bank and secured funding approval from the Homes and Communities Agency and Tenant Services Authority. It will enable us to deliver more new affordable homes for the benefit of local families.

“As the area’s biggest social landlord we are committed to helping to meet the growing demand for high quality social housing and provide homes of 1st choice.”

“We are also fulfilling the promise we made at Stock Transfer in 2003 to modernise our existing stock for the benefit of our customers and a large part of this new investment will go towards continuing to make improvements to peoples homes and their quality of life.” 

Martin Smith, Incommunities Group Chairman said: “This latest investment is good news for our existing customers and people looking for a new affordable home. It is also a major boost for the local jobs market, the construction supply chain and the district’s economy.”

“It is terrific news for the whole district set against the difficult economic climate facing many people and the housing market in particular.”

David Glover, Relationship Director, Barclays Commercial Bank said: “We are delighted to continue our support for the Incommunities Group and we look forward to developing our relationship with them and helping to fulfil their business ambitions.

“There has never been a more important time for social housing and this funding will enable Incommunities to continue their strategy to deliver better facilities to their tenants.”

Bradford Council's Executive Member for Regeneration and Economy, Coun Adrian Naylor, said: "This is fantastic for residents across the district who will see further improvements to their homes.

"Creating as many as 600 local jobs would always be welcomed but in the current economic climate it is even better news and will give the Bradford economy a big boost."