A property finance firm’s proposal to facilitate the construction of affordable homes for key workers never drew a response from Government, it has emerged – but the Housing Minister said he has no record of anyone from the company reaching out to discuss it.
So, what happened?
A “practical” proposal
In an open letter last year, Tenn Capital proposed the creation of a fund into which the firm would put £10 million, on the basis that the government lends the fund £10m at a “low rate” of interest and “fast-tracks” specific brownfield sites through the planning process.
This would be done with a condition that the properties created are affordable and for key workers only.
The firm said it had some potential development sites in mind, as well as a construction firm it would be “happy to work with”.
Managing Director Steve O’Brien wrote: “All it requires is a simple joined-up approach from the government at the highest level and we can start to solve this problem in a practical way by delivering high quality affordable housing for a targeted segment of society which is critical for our overall wellbeing.”
At the time, the Government said it was aware of the proposal and that officers were making contact for more information.
“No response whatsoever”
But in a recent Express podcast episode, Tenn Capital CEO Matt Watson said the firm had received “no response whatsoever”.
“The private sector would contribute and can contribute to effective delivery, working with Government,” he added.
“We can play a significant role but the Government has to be an enabler in that process.”
Asked for comment by Express, Housing Minister Sam Mézec said: “I don’t appear to have any record of anyone from Tenn Capital ever having reached out to me to discuss this proposal.
“Therefore I cannot comment any further on it.”
Deputy Mézec’s comments come not long after he also spoke on a recent Express podcast episode, in which he indicated a willingness to work with the private sector.
LISTEN…
Tenn CEO Matt Watson sat down with Express to share his views on what a real ‘crisis response’ might look like, the key blocks to supply, and how Government and the private sector can work together to help unlock more homes…