Torus to grab a slice of £8.6bn housing fund

Based in Liverpool, Torus is the biggest provider of affordable housing in the North West, and is grabbing a £140m slice of an £8.6bn Government fund to build thousands of new homes. Tony McDonough reports

Ogdens
Torus converted the former Ogdens tobacco factory in Liverpool into affordable homes

 

Affordable housing provider Torus is to grab a £140m slice of a new £8.6bn fund for new homes announced by the Government to build 6,240 new homes.

A housing association based in Liverpool, Torus is the biggest provider of affordable housing in the North West. It owns 40,000 homes in the region, around 15,000 of which are in the Liverpool alone. It has a further 17,000 in St Helens. 

In October last year it pledged to spend £12m, through its charitable arm the Torus Foundation, in Merseyside communities hardest hit by the COVID-19 pandemic. In particular it said it would target support at older and vulnerable people and those struggling financially.

In relation to the new Government funding, Torus said it will build upon its successful strategic partnership with Homes England and continue to tackle the lack of availability of affordable homes in the North West.

Chief executive Steve Coffey said: “This grant enables us to plan further into the future – beyond the five years laid out in our corporate plan – and create a stable, long-term pipeline that will see homes built exactly where they’re needed, ensuring that we can make the biggest difference for our communities.

“Creating homes which are genuinely affordable is integral to our mission as an organisation, and since amalgamating as a larger group in January 2019 has already seen us build 1,600 new affordable homes and invest £260m into our communities. 

“These figures will only continue to grow following the renewal of our partnership with Homes England. The need for affordable housing is not ebbing and as a group, we continue to work tirelessly to not only build homes that give people chances to live well in a home and area they choose.

“By proactively partnering with national agencies and collaborating strategically with Homes England, we can effectively plan for the future and continue helping people on and along the property ladder.”

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