Housing projects that that will deliver more than 500 affordable homes in London have been saved from the axe by Mayor Boris Johnson and the Homes and Communities Agency (HCA).
Investment in 16 housing and regeneration schemes has been approved by the HCA London Board, chaired by the Mayor, and will deliver a total of 518 affordable homes.
The schemes, originally included as part of the previous Government's Housing Pledge, had been at risk because of funding uncertainties, but are now secure thanks to the commitment of £52mm from the HCA and the Mayor.
The 16 projects consist of seven former 'Kickstart' and nine local authority new build schemes.
Seven boroughs will benefit from funding to replace the former Kickstart programme, which will deliver 372 affordable units across the projects. Each scheme has been stalled since the credit crunch.
In addition, nine local authority new build projects being supported will provide 146 new rented homes for 665 people. Each scheme is expected to contribute to the Mayor's target of 50,000 new affordable housing completions by March 2012.
The majority of these developments will deliver a high percentage of large family sized homes which are in particularly high demand.
The full list of schemes approved for funding is as follows:
- Skerne Road, LB Kingston, 10 homes to be built by Crest Nicholson with £365,778 funding
- Leopold Estate, LB Tower Hamlets, 33 homes to be built by Countryside Properties with £1,062,000 funding
- C2 Clapham Park, LB Lambeth, 105 homes to be built by Metropolitan Housing Trust with £9,103,000 funding
- West Hendon, LB Barnet, 43 homes to be built by Barratt Metropolitan LLP with £1,576,967 funding
- Hertford road, LB Hackney, 76 homes to be built by Metropolitan Housing Trust with £6,044,049 funding
- Area 3 Canning Town, LB Newham, 37 homes to be built by Countryside Properties with £4,224,000 funding
- Rathbone Market, LB Newham, 68 homes to be built by English Cities Fund with £13,848,000 funding
- Dabbs Hill Lane, LB Ealing, 8 homes with £716,304 funding
- Chester Balmore, LB Camden, 23 homes with £1,700,000 funding
- Holly Lodge, LB Camden, 15 homes with £1,900,000 funding
- Holly Lodge Estate, LB Camden, 15 homes with £1,500,000 funding
- Elmwood Avenue, LB Hounslow, 19 homes with £1,900,000 funding
- Sheldrake Close, LB Newham, 6 homes with £1,096,550 funding
- Holland Mews Garages, LB Waltham Forest, 12 homes with £1,645,000 funding
- Rayner Garage Site, LB Waltham Forest, 10 homes with £1,400,000 funding
- Rollo Estate New Build, LB Wandsworth, 38 homes with £3,629,000 funding (part of the next phase of their Hidden Homes programme)