In response to the housing crisis, we will work to create 100,000 new homes over ten years directly or by working with partners. At least 50% of the new homes we build will be affordable, with a target of 60% in London. In 2019/20 we will:
• Achieve growth through targeted strategic acquisitions and partnerships, including developing our relationship with Trafford Housing Trust
• Complete a road map for standardising components and house types, with flat layouts, standard house types and bathroom and balcony pods
• Focus on ensuring the ‘one L&Q’ mindset is adopted in our development strategy, with an absolute focus on quality
• Implement a new brand strategy to enable us to stand out from the crowd and tell a compelling and authentic narrative around our social purpose and growth aspirations
• Review our corporate governance structure to support future growth and make sure that the resident voice and accountability are appropriately represented.
We will build financial flexibility and strength to maximise our capacity to deliver services and homes, and manage risk effectively. In 2019/20 we will:
• Develop a new capacity model that ensures we can sustain our investment and growth ambition while operating within set levels of financial risk appetite, linked to key financial metrics
• Seek new funding opportunities and diversify funding to support the capacity model, articulated within a new five-year funding strategy.
We will focus on delivering social rented homes as our main housing offer and make sure that we maximise the income from our other types of homes to support this. In 2019/20 we will:
• Reduce our environmental impact by installing photovoltaic systems, offsetting carbon, fitting charging points for electric vehicles and sourcing energy from green suppliers
• Minimise the waste we generate from our offices and construction sites and monitor the outputs through annual environmental impact reporting
• Create a new Place Makers Fund for the Counties region to support community activity and increase social impact
• Support vulnerable people living within the wider community by working in partnership with St Mungo’s to set up a homeless recovery centre in Stratford.