14 MAY 2009
QUANTUM BEATS CRUNCH TO DELIVER £100M DEVELOPMENT PROGRAMME

The Quantum Consortium has fought the credit crunch and delivered a £100 million programme of affordable homes over the past year.

"It has been a challenging 12 months but notwithstanding the economic climate Quantum has provided 590 much-needed affordable homes across the midlands - comfortably beating our target," said Jim Patman, Development Director of EMH, Quantum's lead investment partner.

"House prices may have slipped back, but the east midlands is the fastest growing region in England, and the gap between the demand for and supply of affordable housing remains acute: we are committed to doing all we can to alleviate it," he continued.

"The combination of the partners' financial strength, experience, local focus and determination to provide a seamless development service mean we continue to deliver high quality, environmentally friendly, value for money homes across the region, on time and on budget.

"Add to the mix our capacity to deliver large and complex schemes, strong relationships with local authorities, and commitment to promoting design excellence, and it's clear why our partners rely on Quantum to provide a whole range of affordable housing products".

"By working together, members are able to achieve significantly more than we would alone," he added.

While most Quantum schemes are fully designed and constructed through partnering arrangements, some homes have been bought completed from the market. This assists developers by relieving them of unsold stock and also offers good value for Quantum's RSL partners.

By working in partnership with these developers, Quantum is supporting the region's construction industry, as well as meeting the needs of aspiring tenants, shared owners, and home owners.

The consortium backs the recommendations of the 2020 Group which has calculated that 100,000 new affordable homes are urgently needed in the next two years.

Quantum members manage 30,000 homes across central England, and work with 33 local authorities.

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