To profit or not to profit?
Chartered Institute of Housing National Conference 2012 - To
profit or not to profit?
As for profit providers start to operate in the
affordable housing sector - Keith Exford, Chief Executive of
Affinity Sutton, talks to housing professionals in Manchester about
how it's possible to benefit from these relationships.
Affinity Sutton is
currently working on four joint ventures with private
Three of these ventures are with construction
company Galliford Try and its housebuilder arm Linden Homes, which
include a 750-home, mixed tenure, zero-carbon development at
Graylingwell Park in Chichester, the first phase of which is
Affinity Sutton’s fourth joint venture is with
residential developer Mount Anvil, which will lead to the
development of a landmark 36-storey tower block on City Road in the
centre of the capital.
‘If we work with a house builder on a
joint venture where there’s a mix of social housing and housing for
sale and we’re going to share in the profits for that housing for
sale to subsidise the affordable housing, we would almost always
ask the house builder to deal with the sales element, because
they’ll have much more experience of it than we do. They’re far
better at maximising the return from the scheme.
‘When it comes to negotiating with the local
authority about particular arrangements for the scheme then we’re
probably more experienced at that within Affinity Sutton,’ he
Most importantly he stress "You can work
collaboratively with the private sector, learn from each other and
play to your respective strengths,’ he said."