In London, the Metropolitan Association for Improving the Dwellings of the Industrious Classes (MAIDIC) was a Victorian-era, philanthropically-motivated model dwellings company. The association, established in 1841, was fore-runner of the modern housing association which sought to provide affordable housing for the working classes on a privately run basis, with a financial return for investors. Although not the first society to build such homes, the Association was the first to be founded expressly for this purpose.[1] As such it was one of the earliest adopters of the principal of the five per cent philanthropy model, outlined in the Company's resolution: "that an association be formed for the purpose of providing the labouring man with an increase of the comforts and conveniences of life, with full return to the capitalist."[1]
By 1900, the MAIDIC was one of the largest model dwellings companies operating in London, housing over 6,000 individuals.[6] Its activities declined as other model dwellings companies and the Greater London Council grew, which offered lower rents to a wider range of candidates.
The MAIDIC later became the Metropolitan Property Association.
Buildings
Metropolitan Buildings, St Pancras Square, Kings Cross (1848)