Havering announces £1 billion deal with Wates
Mon 19th March 2018, 10:14 am
The London Borough of Havering has announced it will enter a joint venture partnership with housebuilder Wates to regenerate 12 council estates over the next 12 years to deliver 3,000 new homes.
The project will see the council’s current stock of 856 homes replaced with 3,112 homes of mixed tenure, including 400 affordable properties and increasing the borough’s council-rented properties by 70%.
The council will receive £33 million from the GLA to deliver new estates where 40% of the homes will be affordable.
Roger Ramsey, leader of Havering Council, said: "This is the most exciting and ambitious council home building programme in London, and I’m confident our new partner will be able to help us deliver our future vision for the borough. Forming this joint venture will allow us to provide high-quality new homes for existing residents and young people who want to stay in the Borough. This, together with the arrival of Crossrail and plans for two dedicated housing zones, means developers, businesses and residents will all want to be a part of a future Havering."
To read more about regeneration in Havering, visit www.haveringmagazine.com.