Redbridge Council launches development company
Mon 19th March 2018, 10:22 am
The London Borough of Redbridge has launched Redbridge Living, a development company that will deliver homes for sale, private rent and social rent using council-owned land.
Three sites have been identified for the first development phase, representing a total value of over £100 million. Of the 350 homes to be built on these sites, half will be retained and rented out by Redbridge Living.
Redbridge Council has provided £60 million to deliver the first phase.
Redbridge Living is the latest company set up by a London borough, following other authorities like Ealing, Newham, Barking & Dagenham and Camden. February’s Sitematch London held a workshop demonstrating how local authorities can speed up the delivery of homes through wholly owned housing companies.