NEW YORK: The six hundred and thirty-eighth entry for the seniors housing Global Awards for 2015 has been received.
Places for People, one of the largest housing associations, manages 48,000 homes. Last year, it had a turnover of £485 million and made profits of £28 million. It owns assets of £3 billion. Its executives like to think of themselves as entrepreneurs and receive fat salaries. Chief executive David Cowans received £434,000 last year. And yet how many homes did it build during the year? Er, 792, of which 316 were affordable. According to David Orr, the reason associations are not building is government regulation.
The award entry has been rejected.
