Andium to “fast-track” major construction projects
Jersey’s social housing provider has agreed to accelerate its existing projects in order to provide a short-term boost to the economy after covid.
After conducting a review of its portfolio, Andium Homes has brought forward a number of its projects to help bolster the island’s economy following lockdown.
The housing provider’s board has approved plans to do the following:
- ask the island's local construction industry to draw up designs for eight capital projects;
- offer three major capital projects to its larger construction partners “to provide future certainty and a much-needed pipeline of work”;
- and offer additional opportunities to the local project management firms in the island to provide support for the above projects and ongoing works.
Elaborating on the major projects in the pipeline, Andium hopes to commence work this year by delivering 21 new homes at Convent Court; providing a new HQ for Age Concern Jersey; refurbishing the four tower blocks at Le Marais; and delivering 122 new homes on the former Jersey Gas site, including a 60% extension to the Town Park and 150 public parking spaces.
It comes after Housing Minister Senator Sam Mézec confirmed to Express in early April that the outbreak and accompanying lockdown would have a knock-on effect on several key projects he and the rest of the government had planned for 2020.
Andium has also promised “a pipeline of projects being brought to the market over the next 12 months to progress our target of 3,000 new homes by 2030.”
Giving details of their projected spend, the organisation states: “This will see expenditure of £150m in 2020 and 2021 alone, with a continuing £12m annual spend on maintenance of our 4,500 existing homes.”
Having used up all of the funding from a £250m government bond created for the social housing provider when it was first established, Andium has had to seek a private loan of £150m in order to continue its development projects.
Ian Gallichan, Chief Executive of Andium Homes, said: “Andium Homes is in a unique position to offer support and make a meaningful contribution to the current situation, by accelerating several pipeline projects and offering these to the market. This will fast-track the progression of these projects and ultimately take them to a ‘shovel-ready’ status, where they can be released for construction when the market has capacity.”
Martin Holmes, Chairman of the Jersey Construction Council, added: “Andium Homes has been a proactive contributor to the work of the Construction Industry Response Team from its inception and we welcome this timely and significant support that will benefit a broad cross section of the local supply chain, from design teams through to contractors and suppliers of all sizes.
“Aside from the positive acceleration of their programme to deliver much needed homes for our community, this sizeable package of infrastructure work will act as economic stimulus and will give confidence to our industry as we start to emerge from the current restrictions and continue our work to build a sustainable industry.”