- 85,000th affordable home delivered at the Holland Estate in central London
- Two major Housing Zones launched in Waltham Forest & Wembley delivering thousands of homes, 12,000 new jobs, new retail & commercial space
- Housing Bank loans to accelerate new intermediate rental homes in Haringey, Greenwich, Bexley and Brent
The 85,000 property funded by the Mayors’ affordable housing programme has been delivered at a new central London development that has been transformed from a former run down estate into 209 high quality new homes. The regeneration of the former Holland Estate site has delivered 81 new affordable homes, including 68 for rent and 13 shared ownership, with the Mayor firmly on track to deliver 100,000 low cost homes by 2016.
Originally in poor condition with flats in need of urgent repair, damp with condensation and attracting anti-social behaviour, the mass redevelopment programme led by Telford Homes and East End Homes, and part funded by the Mayor of London, has transformed the development, re-named Cityscape, into 209 mixed tenure, quality, sustainable, family sized homes. The 81 affordable include three bedroomed social rented properties for £155.00 per week.
Today the Deputy Mayor of Housing Richard Blakeway visited the development to meet new residents as he revealed new £50 million funding for two new Housing Zones in Waltham Forest and Wembley that are set to create thousands of new homes and new jobs. Separately, Haringey, Greenwich, Bexley and Brent will also benefit from new intermediate rental properties funded by loans from the Mayor’s Housing Bank.
Deputy Mayor of Housing, Land & Property, Richard Blakeway said: “The Mayor has created thousands more affordable homes by funding excellent developments like Cityscape. These are good quality homes in the heart of the city with weekly rents as low as £139 for one beds. The Mayor’s innovative schemes like Housing Zones and the London Housing Bank are turbo charging the building of new homes and neighbourhoods. The Mayor is also firmly on target to deliver 100,000 affordable new homes to buy or rent, helping hundreds of thousands of Londoners."
Jon Di-Stefano, Chief Executive of Telford Homes commented: “It was fantastic to have the opportunity to show Richard Blakeway around our Cityscape development. Richard was very impressed with what the partnership between Telford Homes, Eastend Homes and the GLA has achieved in delivering 209 new homes alongside investing millions of pounds in the improvement of existing homes on the wider estate. We look forward to continuing to work closely with Richard and the GLA in the future.”
The Waltham Forest Housing Zone will enable the housing led regeneration of the Blackhorse Lane and Northern Olympic areas, creating two new villages connected by the Lea Valley regional Park. The Zone will receive £41,985,000 towards 2,477 new homes, with 596 affordable properties.
Councillor Khevyn Limbajee, Waltham Forest Cabinet Member for Housing, said, “This is great news for Waltham Forest residents looking to continue to live in the borough. It will allow us to accelerate the delivery of up to 2,500 new homes and create 1,000 new jobs. With over £200million of investment secured from developers we now have the opportunity to enhance the diverse character of this unique location.”
In Wembley there will be five phases of development along the east of Wembley High Road and towards the Stadium. The Zone will receive £8,000,000 and create at least 2,380 homes, 894 affordable properties.
The two new Zones take the total number of current Zones in the capital to eleven, with the Mayor announcing the first nine last month. The Zones are part of the Mayor’s commitment to double house building as London’s population continues to boom. The current Zones will collectively create 32,810 homes, thousands of construction jobs, major station upgrades; new schools; new bridges, and over 38,000 homes, (more than a third will be affordable) and 66,000 construction jobs.
The first allocations of millions of funding from the Mayor’s London Housing Bank will help deliver intermediate rental homes that include Peabody Homes in Thamesmead; Isis as part of the wider Hale Wharf regeneration site; and Quintain as part of the continued regeneration of Wembley Park. The Bank offers tailored financial support to speed up the construction of homes including building later parts of large, multi-phased housing schemes earlier than scheduled.
Notes to editors
1. London’s Housing Zones are in the boroughs of Wembley / Waltham Forest, Barking, Bexley, Ealing, Greenwich, Haringey, Harrow, Hounslow, Lewisham, Wandsworth. More across London are currently being considered with around 20 expected to be designated by the summer. Together they will provide around 50,000 new homes across London.
2. Housing Zones are an integral part of the Mayor’s Housing Strategy that puts forward a range of pioneering measures to boost housing supply, stimulate building and produce more low cost homes to help meet the 42,000 homes a year that are needed to manage London's increasing population. Other measures include the London Housing Bank to accelerate big schemes, the release of hundreds of acres of land owned by the GLA, and the building of 100,000 affordable homes. For more information on applying for the Housing Bank visit https://www.london.gov.uk/priorities/housing-land/increasing-housing-supply/london-housing-bank
3. Telford Homes Plc. is an AIM listed developer delivering high quality residential and mixed-use developments across London. Demonstrating the company’s commitment to regeneration and creating sustainable new communities, Telford Homes has established long-term partnerships with local authorities within key London Boroughs. Established in 2000 Telford Homes has expanded its operation from East and North London to developing high quality homes across the Capital, predominantly in zones one and two. Telford Homes’ high standards and exceptional customer service have gained the company a number of awards. Wins include the prestigious Homebuilder of the Year and a commendation for Best Development Project (Matchmakers Wharf) at the British Home Awards, four NHBC Seals of Excellence as well as the Supreme Award in the Multi-Storey Builder category for the project manager at Telford Homes’ Greenwich Creekside development, recently Medium Housebuilder of the Year and Best design at the Housebuilder Awards 2013, and most recently Best Customer Satisfaction Initiative. The company’s independently conducted customer satisfaction results for 2014 highlight that 97 per cent of customers would recommend Telford Homes.