The Homes and Communities Agency (HCA) has agreed to provide £42m of funding to help deliver the first phase of affordable housing at the King’s Cross Central regeneration scheme.
The King’s Cross Central Limited Partnership – a joint venture between Argent, London & Continental and DHL - will build up to 284 affordable homes over the next five years, alongside open market housing for sale and/or rent.
They will be located next to the Regents Canal and will be sold to One Housing Group, which will be responsible for lettings, management and maintenance. The first residents should move in by 2012.
In total King’s Cross Central has outline planning permission for 1,946 homes, of which 834 will be affordable homes.
The funding package was approved by the HCA London Board, which is chaired by London mayor Boris Johnson.
Johnson said: “Under my chairmanship, I am determined that the HCA London Board prioritises regeneration and delivers more quality affordable housing. So this huge commitment to delivering affordable homes gives me even greater confidence that King’s Cross Central is going to become one of the most vibrant and popular destinations for Londoners and visitors alike.”
David Lunts, regional director for London at the HCA, said: “This funding from the HCA means King’s Cross Central will deliver the right mix of affordable homes for the area and its wider regeneration. We have been working closely with Camden Council, the King’s Cross Central partners - Argent, LCR and DHL - and One Housing Group. This is a major boost for this vibrant new district of central London that will appeal to residents and visitors alike.”
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