Legal & General Affordable Homes has committed to invest £750m in new affordable housing projects taking its development pipeline to nearly 3,500 homes, across 41 schemes.
Also the affordable homes division has recruited developer Capco’s former group planning director Anette Simpson to head developments and partnerships.
Simpson will lead and coordinate the direct delivery of Legal & General’s affordable housing schemes and oversee all aspects of development to legal completion.
Over the last 12 months, the affordable homes division has grown its staff from five to 55 as it strives to deliver a long-term plan to become the UK’s leading institutional registered provider.
Across its growing portfolio, it is delivering a mix of social and affordable rental homes, grant-supported shared ownership homes and Section 106 schemes.
Ben Denton, managing director, L&G Affordable Homes, said: “There is an urgent need to innovate new ways to provide stable homes for the millions of households on waiting lists.
“Legal & General remains committed to deploying institutional capital at scale into this sector, to deliver the volumes of social housing which society desperately needs.”
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