NEDWorking Session Recap - Housing Associations as Placemakers vs Core Operations

Greenacre’s latest NEDworking session brought together Non-Executive Directors from across the housing sector to explore a pressing and often polarising question:

How do housing associations balance their role as placemakers with their core operational responsibilities?

Chaired by Zoe Wortley, Managing Director at  Soar Consulting, the session featured a powerful keynote from Sinéad Butters, Chief Executive of Aspire Housing and Chair of Black Country Housing Group, whose recent Inside Housing article set the tone for a candid and values-driven discussion.

At the heart of the conversation was the tension between financial prudence and social purpose. Sinéad’s reflections on Aspire’s regeneration work in Chesterton, a former mining village in North Staffordshire, offered a compelling case study. The development, which cost more to build than it will ever be worth on paper, exemplifies what she calls “patient capital”: investment that defies conventional financial logic but delivers something far more valuable - hope, pride, and a renewed sense of place.

“No one sensible would do this,” she wrote, referencing the Treasury’s green book evaluation. Yet, Aspire persevered, driven by a belief that regeneration is not just about bricks and mortar, it’s about rewriting narratives and restoring dignity to communities long overlooked. This ethos resonated deeply with attendees, many of whom are grappling with similar dilemmas in their own organisations.

The session unpacked the broader implications of this placemaking approach. How do boards justify investments that may never yield a financial return but transform lives? What governance frameworks support such decisions? And how can NEDs champion long-term vision in a sector increasingly shaped by short-term metrics?

Attendees reflected on the need for courage and clarity in boardrooms. As one participant noted, “We’re not just managing assets - we’re shaping futures.” The discussion acknowledged the pressures of regulatory compliance, rent certainty, and funding constraints, but also emphasised the importance of storytelling, community engagement, and strategic patience.

Sinéad’s leadership journey added a personal dimension to the dialogue. Her commitment to community-based solutions, her resilience through challenges (from cyberattacks to tornadoes) and her refusal to let financial spreadsheets dictate social impact, offered inspiration and provocation in equal measure.

The session also touched on the role of Place Shapers and the call for dedicated regeneration funding to support low-value areas. Without it, many housing associations may struggle to replicate Aspire’s model. Yet, the appetite for change was palpable. NEDs expressed a desire to move beyond transactional governance and embrace a more holistic, human-centred approach.

In closing, Zoe Wortley encouraged attendees to take the conversation back to their boards - not just as a philosophical debate, but as a strategic imperative. The future of housing lies not only in delivering affordable homes, but in nurturing thriving, inclusive communities. And that, as this session made clear, requires bold leadership, collaborative vision, and a willingness to invest in what cannot always be measured.

To take part in the next NEDworking session, or to discuss your next NED placement, contact Barry Forsythe at barry@greenacre-recruitment.com.