London’s Deputy Mayor of Housing, Richard Blakeway, has revealed new £50 million funding for two new Housing Zones in Waltham Forest and Wembley.
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’s innovative schemes like Housing Zones and the London Housing Bank are turbo charging the building of new homes and neighbourhoods.”
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, hopes the Mayor, collectively create 32,810 homes, and thousands of construction jobs.
The first allocations 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.