The Gateshead Regeneration Partnership has been named as one of the UK’s top public / private ventures in the UK.
The £350 million initiative, which aims to deliver 2,400 high quality new homes over the next 15 years, has been selected as one of only five shortlisted entries for the best joint venture category in the Inside Housing magazine awards.
The others are at Applewood in Stroud, Ealing Road in Brent, Nothfield Village Phase one in Stafford and Sheffield Housing Company.
The winner will be chosen at a ceremony in the Lancaster Hotel, London, on October 16th. The awards celebrate success and innovation in delivering new homes, highlighting achievement in ten key areas, from design to sustainability.
Gateshead Regeneration Partnership is a joint venture comprising the borough council and developer partners Galliford Try Partnerships North and Home Group. It has engaged some of the UK’s most innovative residential architects to deliver strikingly designed properties that will provide a step-change in the quality of housing.
Before a brick had been laid the venture was named as the Best Public/Private Partnership in the Local Government Chronicle Awards.
Residents have now begun moving in to The Sycamores in Birtley and the Trilogy I development off Saltwell Road, Bensham is well underway. Linden Homes – Galliford Try’s housebuilding division – is marketing the homes for sale while Home Group will own and manage the properties available for affordable home ownership and rent – around 25% of the total.
All the homes will exceed current space and design standards and will be delivered to achieve, as a minimum, level 4 of the Code for Sustainable Homes. They also meet Lifetime Homes, Secure by Design and Homes and Communities Agency standards.
The joint venture structure ensures that public and private sector partners have equal representation and authority. However, the financial risk to the council is reduced because the long term rewards of significant levels of development over several years is an attractive reward for the private sector.
There is also reward for the local authority in the shape of realised land values and a share of profit from the homes sold on the open market. This profit sharing also allows investment to accelerate development on additional sites.
Cllr. Mick Henry, Leader of Gateshead Council, said: “While the overall success of this venture will be judged on the popularity of the homes and the quality of life for our residents in the new neighbourhoods we create, it is pleasing to be up for a second award so early in the project.”
Stephen McCoy, Managing Director of Galliford Try Partnerships North, added: “We are extremely excited to be involved in this fantastic project which I believe will become a showcase for what public private partnerships can achieve.”
Home Group. Chairman Bob Davies, commented: “The partners have come together to share their expertise which will result in thousands of homes for people throughout the borough. This includes those who want to buy outright, those who rent and those who prefer shared ownership. Just as importantly, the project will help to regenerate neighbourhoods and create thriving communities.”
Emma Maier, editor of Inside Housing, said: “Across the UK there is a crisis in the supply of quality, affordable homes. We launched the Top 60 Developments this year to reward those who are excelling in providing much-needed homes. We were inundated with entries from the leading organisations who have been behind the most innovative and impressive projects in the UK.”
To find out more about the awards, the judges and each of the finalists, please go to www.top60developments.co.uk