Affordable Development Funding Model
Our Affordable Development Funding Model is available to local authorities, registered social landlords and private developers to build affordable, energy efficient homes. The model is in line with Government thinking on mutuals and cooperatives and is underpinned by the idea that it is the ‘Community’ which can benefit from these developments and not just the developers and investors, as was often the case with the Private Finance Initiative.
Development of the model has involved the:
- Technical, energy-modelling skills of the Building Research Establishment and Welsh School of Architecture.
- Development, planning and financing skills of Community Development Capital (CDC) part of the Warm Wales Cymru Gynnes Group.
There is very restricted Social Housing Grant available through Welsh Government to fund the development programme in Wales at present, therefore this model provides an opportunity for projects to come to fruition through sustainable funding means. It also enables a cross-subsidy to fill funding gaps through mixed tenure developments and renewable energy design. The funding model can be used to develop new build schemes, refurbishment/retrofit/remodelling schemes, Green Deal type projects and Vacant Property Partnerships.
The model enables the community to benefit in a number of ways. Not only do they receive new, purpose built accommodation to meet their needs, they also benefit through energy efficient homes which are built to the highest sustainability standards which minimise the impact on the environment. In addition to the renewable energy sources, any residents who may previously have been in fuel poverty will benefit significantly as the model ensures tenants and occupiers will receive their energy at rates set at or below the lowest open market rate available, thus ensuring their energy costs will be further reduced.
Warm Wales Cymru Gynnes is currently working with a number of housing associations and local authorities on a range of schemes. Please contact us if you are interested in learning more about the model. Our experienced team will be happy to work with you to demonstrate the benefits based on specific projects you are seeking to progress.
Contact us on 01656 747622 or firstname.lastname@example.org