Mayor strikes £1.7bn affordable homes deal for London

14th July 2017

Mayor of London Sadiq Khan has signed a £1.7bn agreement to build 50,000 new affordable homes with councils and housing associations including L&Q and Peabody. This will form part of his goal to help supply 90,000 new affordable homes in the next 4 years through £3.15bn of devolved Government funding. He vowed to aim for 50% affordable housing on all developments during the mayoral campaign, but then lowered this target to 35%. Earlier in the week, Mayor Khan announced plans to send in building experts to town halls to help improve the architectural standard of new homes being built. A new social enterprise would oversee the team of 50 planners and designers, who would be seconded to councils across London for up to a year.

The Daily Telegraph (13/07/2017)   Evening Standard (11/07/2017)