The London region of the Homes and Communities Agency (HCA) is to invest £32m to unlock the housing element of two major regeneration schemes in Greenwich.
It has allocated just over £30m to the first phase of Berkeley Homes and Southern Housing Group’s Kidbrooke Regeneration project which comprises 456 homes. A further £2m has been approved for the first phase of a new housing scheme being delivered by Bellway Homes and London & Quadrant Housing Trust at Greenwich Peninsula. Greenwich Council is working closely with the HCA and its partners on both sites.
This investment is part of the HCA’s London programme to kick-start development activity during the housing market downturn. The funding comes from the existing HCA London budget within the HCA’s National Affordable Housing Programme. It complements investment in infrastructure already made by the HCA at Kidbrooke and Greenwich Peninsula. Work should start on the new homes on both sites by the autumn.
The mayor of London Boris Johnson, said: ‘This further funding from London’s housing budget will deliver more urgently needed affordable homes, create jobs to support the capital’s economy during the downturn and transform the quality of life for thousands of Londoners.
‘At opposite ends of the borough these two schemes will create new communities and help drive forward the wider regeneration of the area, offering a bright future for Greenwich residents.’
David Lunts, HCA London regional director, said: ‘The HCA is unlocking major regeneration schemes in the capital by tailoring investment packages for individual projects. Our new approach to investment and the flexibilities we are working with mean that London will benefit from a supply of new and affordable homes in high quality environments. This development activity will also keep hundreds of Londoners in much-needed employment.’
Stephen Boid, joint chief executive of Greenwich Peninsula Regeneration, said: ‘Great progress is being made with the commercial and academic elements of Greenwich Peninsula and we welcome this funding from the HCA that will literally kick-start the construction of the first homes on the scheme.’