St. Mary’s Village, Hackney. Regeneration of Trowbridge Estate (Hackney CEI estate) Tower block demolition 220 new homes (244) mixed tenure: Open Market.

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Presentation transcript:

St. Mary’s Village, Hackney

Regeneration of Trowbridge Estate (Hackney CEI estate) Tower block demolition 220 new homes (244) mixed tenure: Open Market Sale Shared Ownership Lovell Resale Covenant (low cost home ownership) Start spring 2000, completion Spring 2003 (phased vacant possession of sites) New build and refurbishment Community Centre, Doctor’s surgery, shops, village green & play facilities The Project

Lovell (Developer) Metropolitan Home Ownership (RSL) Notting Hill Home Ownership (RSL) LB Hackney (Local Authority Prince Evans (Solicitor) PRP Architects (Architects) Watts & Partners (Employers Agent) The Project Team

The Innovations R8 Housing Forum Demonstration project Three key innovations: Demand led mixed tenure development The Lovell Resale Covenant Joint KPI assessments

Mixed Tenure Demand led mixed tenure: 66 shared ownership 60 Lovell resale covenant 118 open market sale (inc. 5 live/work units) Pepperpotting Identical specification, size & quality of units 1 st development in UK to offer choice regardless of tenure Full stakeholder involvement Joint sales and marketing suite

Lovell Resale Covenant How it Works Land is made available at nil cost Lovell builds under licence Lovell builds using its own private funding Council nominates purchasers Property purchased at 70% Open Market Value No rent payable on 30% equity (owned by LA) Purchaser responsible for maintenance Council/RSL retains asset in property At resale property sold to new nominee at 70% current market value Right to Buy in one stage

Joint KPI Meetings Clients assess Lovell’s performance Lovell assess client team Quarterly round table meetings Subjective KPIs, 1 – 10 score Over 20 questions including: service & product satisfaction, sales, programme, costs & safety Acts as mini partnering meeting

“5-4-7” & The Innovations Focus on the Customer -- Delivering exactly what the end user wants, maximising choice Product Development – Understanding the needs of the LA and purchaser & delivering an innovative solution Project Implementation – mapping of processes & continuous improvement. Learning from the experience & feedback, through the joint KPIs

Lessons Learned Mixed Tenure & Resale Covenant Demand led mixed tenure pepperpotting works in a commercial environment No impact on sales prices No predetermined tenure zones Families have been able to move back into area Will work with rented properties Replicate at West Hendon (£275m regeneration) Resale Covenant meets demand for key workers Resale Covenant can be adapted for RSLs (right to buy residents on regeneration projects)

Lessons Learned Joint KPIs Joint assessments ensure everyone is accountable The project becomes the client Round table approach brings all issues into the open Using same approach on other projects Although subjective, the scoring is consistent & taken seriously

KPI results -- Service

KPI results -- Product

KPI results -- Total

Conclusions A long time to put scheme together A flexible approach from the Local Authority Innovative solution to original brief Solution works in a commercial setting High degree of replicability Joint KPI approach welcomed by client team Successful regeneration of former CEI estate