Funding announced for thousands of homes
Mon 29th October 2018, 9:54 am
City Hall will provide over £1 billion to build 14,000 new homes across 26 London boroughs over the next four years.
In May 2018, mayor of London Sadiq Khan announced the Building Council Homes for Londoners programme, which invited London boroughs to bid for funding to build homes. Successful bids from 26 councils will now be able to deliver 14,000 new homes across London, 11,000 of which will be for social rent.
The London Borough of Newham, for example, will receive over £100 million to build 1,100 homes. The mayor of Newham, Rokhsana Fiaz, said: "I am very happy our bid for £107 million of funding from the mayor of London has been successful. This funding will kick-start our ambitious housing programme, which will see the construction of more than 1,000 quality homes across 40 sites in Newham started by 2022, and available at London affordable rent.
The plans will see councils increase their building rates over the next four years to a total estimated at five times greater than over the previous four years.
At Sitematch London on 7 February 2019, the Greater London Authority will be available to meet with attending developers. To book your meeting, contact Jake Westhead on 020 7978 6840.