The Stock Transfer Programme, which is part of the Minister's recently announced housing strategy 'Facing the Future', will have three phases beginning in September 2013 through to September 2014. A key part of the programme will be consultation with tenants over the months ahead.
Speaking about the programme, the Minister said: "Since I took up this role, ensuring that the social housing stock throughout Northern Ireland is maintained to a good standard has been a priority. This programme will see homes that require multi-element improvements get those improvements much more quickly.
"Raising the standard of some of our poorest quality housing stock and providing tenants with high quality and decent modern homes that are fit for purpose is in my view essential. I do however want to reassure tenants that ensuring rent levels remain affordable is central to this programme and my plans for the future of social housing in Northern Ireland.
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"In addition, housing has a significant role to play in helping support and sustain economic recovery, creating employment and helping to regenerate our communities. This programme will act as a stimulus to the local economy, in particular it will help maintain jobs in the hard pressed construction sector through the building works that will flow from the upgrade programme.
"Housing Associations have continued to demonstrate their ability to lever in additional funding to the housing sector in the form of private finance. By transferring these homes to the Housing Association movement, there are further opportunities to draw on this expertise and secure alternative funding to conduct this work, allowing us the opportunity to maximise the use of our limited public expenditure resources across a number of priorities."
The Programme, overseen by the Northern Ireland Housing Executive, will take place in a number of phases. The first phase of 702 proposed properties in 18 locations commencing in September 2013, the second phase of 976 proposed properties in 22 locations commencing in March 2014 and a third of 744 proposed properties in 25 locations commencing in September 2014.
(CD/JP)
