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Strategic intervention for the economically active? Exploring the role of selected English local authorities in the development of new market rental housing with pension fund investment

Journal of housing and the built environment, 2016-03, Vol.31 (1), p.107-122 [Peer Reviewed Journal]

Springer Science+Business Media 2016 ;Springer Science+Business Media Dordrecht 2015 ;Springer Science+Business Media Dordrecht 2016 ;ISSN: 1566-4910 ;EISSN: 1573-7772 ;DOI: 10.1007/s10901-015-9447-4

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Title:
Strategic intervention for the economically active? Exploring the role of selected English local authorities in the development of new market rental housing with pension fund investment
Author: Stevens, Bryony
Subjects: Affordable housing ; Case studies ; Economic development ; Economic rent ; Economics ; Geography ; Households ; Housing ; Housing market ; Housing policy ; Human Geography ; Innovations ; Institutional investments ; Interviews ; Investment ; Land ; Landlords ; Landscape/Regional and Urban Planning ; Local government ; Manufacturing ; Markets ; Mathematical models ; Pension funds ; Policies ; Population ; Product innovation ; Public housing ; Rental housing ; Rentals ; Social Sciences ; Tenure
Is Part Of: Journal of housing and the built environment, 2016-03, Vol.31 (1), p.107-122
Description: Drawing on qualitative data the paper explores a shift in the focus of the English local authority enabling/strategic function towards innovative models to stimulate new supply of market rented homes, with local authority pension funds as institutional investors. It is argued that these initiatives are significant in illustrating the role of local, rather than national authorities, as initiators and trailblazers of policy towards the private rented sector. The importance of policy discourses that prioritise the needs of economically active households in justifying the use of publicly owned land for the development of privately-owned rented housing is explored in the context of debates around modes of local economic development in the global context. It is suggested that although the identification of local government pension funds as institutional investors may create an impression of social accountability and an ethical dimension to these innovations, they nevertheless represent a form of marketization of socially-held assets. This raises questions about the changing nature of the enabling/strategic function within English local authorities and the extent to which the previous focus on affordable housing delivery is being diminished in the dedication of local authority resources such as land to a profit-driven form of housing supply.
Publisher: Dordrecht: Springer
Language: English
Identifier: ISSN: 1566-4910
EISSN: 1573-7772
DOI: 10.1007/s10901-015-9447-4
Source: ProQuest Central

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Strategic intervention for the economically active? Exploring the role of selected English local authorities in the development of new market rental housing with pension fund investment

Springer Science+Business Media 2016 ;Springer Science+Business Media Dordrecht 2015 ;Springer Science+Business Media Dordrecht 2016 ;ISSN: 1566-4910 ;EISSN: 1573-7772 ;DOI: 10.1007/s10901-015-9447-4

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