Merger Will Create New Super-Landlord in the North
Harvest Housing Group and Arena Housing Group will formally merge in April 2012, creating a 32,000-home landlord in the North West, Cumbria, Staffordshire and Yorkshire.
Talks started last year and a detailed business case was subsequently presented. The final decision will take account of residents' views from an ongoing consultation exercise.
Both organisations received 100% of the funding applied for from the Homes and Communities Agency's affordable homes programme. This will allow thaem a combined programme to develop 1,300 new homes.
A new name for the organisation will also be decided following the consultation programme.
New Housing Association Bond Launched
As the price of Government borrowing plunges to historic low levels, seven housing associations have clubbed together to launch a new £100 million bond.
The Housing Finance Corporation bond - Funding Number Three - is has a 32-year maturity.
Network Housing Group took the main share of the issue, raising £40 million, with a retained option for a further £30 million.
Bournville Village Trust and Worthing Homes raised £10 million each. Manningham Housing Association, Venture Housing Association, Wirral Methodist Housing Associations and Newport Housing Trust took smaller shares.
Newport HT's share will be used to fund a solar PV scheme.
Three Valleys Joins the East Midlands Housing Group
Three Valleys Housing (TVH) joined the East Midlands Housing Group, expanding the number of homes owned by the Group to 17,000
The partnership represents a fresh start for TVH, which was placed under supervision for a second time in February 2010 because of governance problems. As part of the arrangement, Sue Coulson has been appointed as managing director
The partnership arrangement will allow TVH to look into building homes in Erewash, where it operates.