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Housing trust to reinvest in social housing

Housing trust to reinvest in social housing

Monday 27 October 2014

Housing trust to reinvest in social housing

Monday 27 October 2014

Two tired social housing estates could be about to get another multi-million pound makeover.

Les Vaux Housing Trust plan to spend up to £30 million doing up Troy Court and neighbouring Valley Court in St Saviour and hopes to put in a planning application before Christmas.

The Trust has just finished paying off a £5 million States loan it borrowed more than twenty years ago to buy Troy Court and save the 96 families who were resident at the time from eviction.

The Trust’s Secretary Deputy John Le Fondré said: “I am extremely pleased that having achieved the repayment of the original loan for Troy Court, we can now move forward to this most exciting of projects. 

My father, as founder of the Trust, was very concerned for the tenants, and I think he would be immensely pleased with the progress of the Trust to-date, and in particular with the fact that we are carrying on the Trust model that was developed some 25 years ago, and which fully envisaged this day arriving, with rents being recycled towards generating further investment into Affordable Housing.”

The Trust’s Chairman Ken Hewitt said: “This is a further important milestone in the history of the Trust, and I should like to express my thanks to all of the team that has brought us to this point.”

Les Vaux Housing Trust manages over 360 different types of accommodation around the Island including older and more modern properties.

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