The Mayor of London, Boris Johnson, has recently announced London’s first Housing Zones in a bid to boost the number of affordable homes in the capital. As part of the scheme, which includes nine boroughs from across the city, £260m of new investment will be provided in order to deliver 28,000 new homes.
Development of 1,890 hectares of brownfield
The Housing Zones will see the redevelopment of over 1,890 hectares of brownfield; which is the equivalent of 2,656 football pitches. The sites chosen for this redevelopment have been specially selected and are dubbed by the Mayor as ‘key opportunity sites’. The Housing Zone status for each site runs until 2025, and the main aims are to maximise development, fast track home building and deliver much needed infrastructure.
Housing boost alongside job creation
An increased amount of housing will not be the only benefit that the Mayor’s Housing Strategy provides, and it is hoped that his commitment to double housebuilding will also create 56,000 construction jobs across 52 separate schemes in the capital. The areas selected for the scheme will also benefit from planning focus and the release of publicly owned land for development.
London's first Housing Zones will be in the boroughs of Barking and Dagenham, Bexley, Ealing, Royal Borough of Greenwich, Haringey, Harrow, Hounslow, Lewisham and Wandsworth. By the end of this year, it is hoped that 20 Housing Zones will have been announced, providing over 50,000 new homes.
When announcing the strategy towards the end of last month, The Mayor of London, Boris Johnson, said: “As London's population continues to boom, already at its highest since records began and with more growth predicted, housing is a huge challenge. We need to double housebuilding and provide a million more homes by 2025. These innovative new Housing Zones, the first of their kind in the UK, will trigger regeneration and turbo boost the transformation of the capital's brownfield sites, creating tens of thousands of new homes for hard working Londoners in first class new neighbourhoods.”
It is thought that all of this will help London meet the 42,000 homes per year that are required to meet the capital’s increasing population. Alongside this, the Mayor also plans to introduce the London Housing Bank to accelerate big schemes, release hundreds of acres of land owned by the GLA, and build 100,000 affordable homes.
If you would like to read more about the scheme, and learn more about the plans for specific boroughs, then more information can be found here.
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