ALMO Becomes Housing Association

An ALMO has become the first in the country to transfer all its stock to a housing association. Golden Gates Housing, which has managed 8,700 homes on behalf of Warrington Council since February 2004, became a housing association yesterday. It is the first of four ALMOs intending to do so. The transfer to Golden Gates Housing Trust, which received a 91.9 per cent ‘yes’ vote from tenants, will generate £105 million of investment over the next five years, and around £530 million over 30 years. Read more on Inside Housing.