Ken Livingstone has announced changes to a financial ‘toolkit’ which helps developers and planners assess the viability of affordable housing in new developments within the capital.
Targets set by the Mayor’s London Plan call for fifty per cent of all new homes built should be affordable.
The toolkit has been reviewed to reflect the requirements of local authorities, developers and consultants for a more streamlined model with greater focus on the Toolkit’s planning context and greater clarity of use.
Mayor Livingstone described the toolkit as “an essential, and innovative way of ensuring that we get a fair contribution from house builders, whilst not undermining the overall viability of developments.”
The Mayor said the changes would “ensure that the toolkit remains a valuable and up to date way for us to maximise the number of new affordable homes in London.”
