Poplar HARCA Company Profile

Background

Poplar HARCA (Housing and Regeneration Community Association) is a housing association based in East London, established in 1998. The organization manages approximately 10,000 homes, focusing on social housing and community regeneration. Its mission is to create opportunities that realize community potential through exceptional homes and thriving places, with social justice at the core. Poplar HARCA has garnered an international reputation for innovation and is recognized for award-winning services delivered by a dedicated team.

Key Strategic Focus

Poplar HARCA's strategic objectives center on housing provision, community regeneration, and social investment. The association specializes in developing and managing social housing, implementing community development projects, and fostering partnerships to enhance local infrastructure and services. Key initiatives include the "Reshaping Poplar" agenda, a twelve-year plan aimed at updating and improving housing stock, developing new homes, and enhancing community facilities. The primary market targeted is East London, with a focus on areas such as Poplar, Bethnal Green, and Shadwell.

Financials and Funding

As of 2016, Poplar HARCA reported a revenue of £54.6 million and a net income of £10.1 million, with assets totaling £506 million. In 2019/20, the operating surplus decreased by 65% to £21 million, primarily due to reduced turnover from land sales and lower gains on the disposal of fixed assets. The association has secured funding through various channels, including a £250 million bond issuance in 2013. Capital is utilized for housing development, community projects, and maintaining financial resilience.

Pipeline Development

Poplar HARCA has several key projects in its development pipeline:

Aberfeldy Estate Redevelopment: A joint project with Willmott Dixon, involving the demolition of nearly 300 homes and the construction of 1,100 new homes over twelve years.

Poplar Works: A £6 million fashion hub providing 40 low-cost studio spaces, manufacturing and training facilities, and a public café, aimed at creating 85 local jobs and 185 training opportunities within two years.

Stroudley Walk Development: In partnership with Muse Places Limited, this project focuses on transformational development in Bromley-by-Bow, enhancing housing and community facilities.

Technological Platform and Innovation

Poplar HARCA leverages innovative technologies to enhance housing management and resident services:

IoT Environmental Sensors: Deployment of Aico's HomeLink devices to monitor temperature, humidity, and carbon dioxide levels, aiming to improve indoor air quality and address issues like mould.

RentSense Software: Implementation of Mobysoft’s RentSense to optimize rent collection processes, resulting in a reduction of arrears by £340,000 within twelve months.

Leadership Team

The leadership team at Poplar HARCA includes:

Steve Stride: Chief Executive, instrumental in leading the organization's strategic direction and community initiatives.

Dr. Paul Brickell: Chair of the Board, overseeing governance and strategic oversight.

Rev. James Olanipekun: Vice-Chair, contributing to community engagement and organizational development.

The board comprises twelve members, including seven resident directors, one local councillor, and up to four independent members, ensuring diverse representation and community involvement.

Leadership Changes

In December 2023, the boards of Poplar HARCA and Tower Hamlets Community Housing (THCH) approved a merger, scheduled for completion in spring 2024. Post-merger, Steve Stride will continue as Chief Executive, while Anita Khan, the current Chief Executive of THCH, will become Deputy Chief Executive of the merged association.

Competitor Profile

Market Insights and Dynamics: The social housing sector in East London is characterized by a high demand for affordable housing, ongoing regeneration projects, and a focus on community development. The market is competitive, with several housing associations operating in the region.

Competitor Analysis:

Swan Housing Association: Manages approximately 11,000 homes, focusing on regeneration projects and community services.

Catalyst Housing: Operates over 21,000 homes, emphasizing affordable housing and community development.

Notting Hill Genesis: Manages around 32,000 homes, with a strong focus on mixed-tenure developments and regeneration.

Clarion Housing Group: The largest housing association in the UK, managing over 125,000 homes, with extensive regeneration and development projects.

Peabody: Manages over 66,000 homes, focusing on affordable housing and community programs.

These competitors share a focus on affordable housing, regeneration, and community engagement, contributing to a dynamic and collaborative market environment.

Strategic Collaborations and Partnerships

Poplar HARCA has established significant partnerships to enhance its services and community impact:

Red Olive Limited: Collaboration on data projects to improve housing management and resident services.

Muse Places Limited: Joint development of the Stroudley Walk project, focusing on housing and community facilities.

Shared Future CIC and Zedify: Partnerships aimed at innovative projects, including sustainable delivery services and community-driven initiatives.

Operational Insights

Poplar HARCA's strategic considerations include:

Community Engagement: Establishment of a Community Panel to develop resident engagement strategies, ensuring services are tailored to community needs.

Financial Resilience: Focus on maintaining financial stability through prudent management and strategic partnerships, enhancing the organization's capacity to invest in housing and community projects.

Innovation: Adoption of advanced technologies and innovative practices to improve housing management, resident services, and operational efficiency.

Strategic Opportunities and Future Directions

Looking ahead, Poplar HARCA aims to:

Expand Housing Stock: Through ongoing and new development projects, increasing the availability of affordable housing in East London.

Enhance Community Programs: Investing in initiatives that support employment, education, health, and well-being, fostering thriving communities.

Sustainability Initiatives: Implementing environmentally sustainable practices in housing development and management, contributing to broader environmental goals.