The Mayor of London has announced a further £100m of funding to push housing schemes along.
The new investment secured by the Mayor from the Government, which is additional to the first £100m ‘Housing Covenant’ funding announced by the Mayor in September, will be targeted specifically towards housing providers who commit to starting construction on site by March 2015 at the latest.
Developers, local authorities, charities and private organisations are all invited to bid for funding, which must be used to deliver affordable homes to own. The Mayor also wants to hear from organisations committed to bringing empty properties or under-used commercial units back into use as affordable homes or to help London boroughs tackle homelessness. Organisations interested in submitting bids in London will need to do so by April 30.
Boris Johnson, said: “This latest tranche of cash is another fantastic opportunity for housing providers in the capital to deliver the homes that this city desperately needs. Whether it’s for affordable homes to own, or to make better use of properties that lie empty or under-used, the fund will help working Londoners across the capital and create valuable jobs in construction.”
The Mayor, who has overseen the release of 100 hectares of Greater London Authority land since he assumed his new housing powers, announced last month that funding allocations for the first part of his Housing Covenant would deliver more than 3,000 homes and support around 6,000 construction jobs.