News & Articles
ASA partners in major homeless initiative
ASA partners working on
major homeless initiative
A major new initiative to acquire housing stock around London to assist in bringing those on the Homeless Register into permanent accommodation has been approved by London Borough of Bromley.
The scheme is an initiative from Mears Group plc, a major UK housing manager. It is exciting in that Mears teamed up with ASA partners and other advisers to create and test the structure, which is now being actively pursued by a large number of other London Boroughs.
The structure involves the creation of a corporate bond as well as additional sources of funding to create a recyclable fund to bring private landlord units back into public ownership. This substantially reduces financial burdens on local authorities who are bearing increasing costs of finding bed and breakfast accommodation. The project has attracted national media interest.