Boris Johnson yesterday announced a three year, £77m project to regenerate the capital’s housing estates. The money is being made available to “kick-start” existing projects which have stalled because of the economic downturn.
The Mayor also announced that a further £55 million will be made available to reduce homelessness, provide larger family homes and improve existing social rented homes.
The money is being made available by the Homes and Communities Agency which has a London-specific sub-committee chaired by the Mayor. The Board oversees a three year budget in London of over £5 billion.
Speaking at the London Housing Federation Development Conference yesterday, the Mayor said he was “determined” to use the money to improve standards for those living “n overcrowded and poor quality housing”.
“It is essential that schemes to regenerate and renew the most deprived parts of our city go ahead despite the credit crunch, and this funding will play a crucial role in making this happen.”
Sir Bob Kerslake, Chief Executive of the Homes and Communities Agency said: “We are delighted to be part of the delivery of such a key investment programme alongside the Mayor. Through our London team we look forward to working in close co-operation with local authorities, partners and members of the community to help bring about significant change.”
Last month the Mayor set out a wide ranging strategy on how he plans to tackle the shortage of affordable and social housing in the capital.
Critics on the London Assembly say the Mayor’s policies, including his decision to scrap a London-wide target of 50% of all new homes to be affordable in favour of individually negotiated targets for each of the capital’s boroughs, will deliver fewer social rented over the next three years.
