The payment has been awarded to the association for its 16-home scheme in Trafford, near Manchester, for which Adactus had already been granted £200,000. The housing association could make starts earlier than planned on six further schemes which would be worth £1.5 million, the organisation said.
The early payment awarded by the HCA is in line with an offer it made last summer, which promised 75% of AHPgrants up front for any schemes that were brought forward to start this financial year.
Adactus has been granted £10 million funding form the HCA which it intends to use to deliver homes by 2015. The grant has been given under the AHP and will help to deliver 487 affordable homes, 434 of which will be for affordable rent.
The AHP is run by the HCA and aims to increase the supply of new affordable homes in England. The HCA will invest £4.5 billion in affordable housing through the AHP and existing commitments from the previous national affordable housing programme.
The majority of the AHP grants will be made available as affordable rent, with some for affordable home ownership, supported housing and in some circumstances, social rent.
