Legal & General (L&G) Affordable Homes has appointed a former director at Capital and Counties (Capco) as its director of development and partnerships, as it commits an extra £750m to new affordable housing projects throughout the UK.
Anette Simpson, former group planning director at Capco, will lead on the delivery of L&G’s affordable homes pipeline, which has increased to nearly 3,500 homes across 41 schemes, thanks to the new investment.
L&G, the UK’s largest institutional investor, first announced it was launching its own housing association in April last year, with the ambition to build 3,000 homes per year within four years.
L&G Affordable Homes, which delivers a mix of social and affordable rental homes, grant-supported shared ownership homes and Section 106 schemes, has grown from five to 55 employees since it launched.
This month, the first residents of a L&G Affordable Homes scheme moved into a development in Falmouth, Cornwall, which will be managed by housing association Coastline Housing.
Ben Denton, managing director of L&G Affordable Homes, said: “There is an urgent need to innovate new ways to provide stable homes for the millions of households on waiting lists.
“L&G remains committed to deploying institutional capital at scale into this sector, to deliver the volumes of social housing which society desperately needs.
“We have made a great start in executing our development programme, which now stands at nearly 3,500 homes all across the country.
“As part of our continued expansion, we have put together a capable and experienced leadership team.
“Anette Simpson is another key hire, helping us to drive forward our pioneering ‘institutional registered provider’ model.”
Source: Insidehousing
