A new housing venture from the former chief executive of Crest Nicholson, Stephen Stone, has registered as a for-profit provider of social housing.
Stone (pictured) established Flint Housing last year as a founding director alongside William Rucker, chair of Lazard UK and the former chair of Crest Nicholson and Quintain Estates & Development.
Flint Housing is led by Eugene Schreider as chief executive. Schreider is a former Lazard director. Sir Peter Dixon is non-executive chair. Dixon was previously chair of housing association Optivo and also chair of the government’s Housing Corporation, a predecessor of Homes England.
The company aims to invest institutional capital in new-build affordable housing, working with local authorities, SME developers and volume housebuilders. It has a target to reach a portfolio of 1,000 homes contracted over the next three years.
Flint Housing’s strategy will initially focus on section 106 schemes of 15-50 homes. It will also seek to deliver non-s106 affordable housing at schemes of up to 100 homes. As a registered provider it will be able to bid for Homes England grant funding.
Schreider said: “We will facilitate greater disposable income, improved physical and mental wellbeing, and better environmental performance of housing for our residents whilst generating a commercial, risk-adjusted, inflation-linked return from a property-backed asset class for institutional investors.”
Flint Housing was advised on the registration process by Savills.
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