Insitutionally-backed for-profit provider forward funds 260 homes for social rent across two sites in London.
For-profit registered provider (RP) Flint Housing has announced an ambition to deliver 3,000 homes over the next five years.
The insitutionally-backed provider, founded by former Crest Nicholson boss Stephen Stone and former chair William Rucker in 2020, announced the target this week as it confirmed two forward-funding deals.
The RP, established in 2020, has purchased 88 new homes at Horizons, part of housebuilder Bellway’s Fielders Quarter development in the Barking Riverside regeneration scheme. The homes are due for completion by February 2027.
It has also agreed a deal to buy 172 new homes from developer Fairview New Homes at its Chase Farm scheme in Enfield, with the homes due to be handed over in 2028/29.
The firm currently has a pipeline of 1,000 units.
The provider in 2022 secured a partnership with investment funds managed by Morgan Stanley Real Estate Investing (MSREI), to increase the providers investment capacity to more than £1bn.
Eugene Schreider, chief executive at Flint Housing, said the organisation is “actively working with the Greater London Authority and a range of developers across London to further scale our delivery.”
He added: “By forward funding developers, we have already secured the delivery of more than 450 homes… By helping to bring together developers, institutional funders, local authorities and the public sector, we can unlock greater affordable housing delivery.”
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