February 15th 2024
£50m to be invested into London estates regeneration
The department for levelling up, housing & communities have announced that £50m will be invested into the capital city to help unlock new homes and improve residents’ quality of life.
Announced yesterday, 14th February 2024, the new investment will be made available to existing estate regeneration schemes that carry the support of local communities. The money is part of a £1bn investment that is being given to the city through the government’s Affordable Homes Programme which can now be used to support the regeneration of old social housing estates.
The news has been positively accepted as in August 2023 London Councils estimated that one in 50 people in London are homeless. Cases of homelessness in London rose by 54% between 2013 and 2023. In addition, government statistic show that in summer 2022, 59% of people in temporary accommodation across England were in London.
Commenting on the news, Michael Gove, secretary of state for housing, said: ‘[We have set out] a major package of measures to make sure we have the homes that this country needs. London is at the heart of this approach.
‘The investment we are making to deliver new homes through estate regeneration, support the massive potential of strategic sites like Euston, and deliver major brownfield sites in partnership with private housebuilders, will keep the dream of home ownership alive for Londoners.’
Alongside investing millions into London’s existing estates – and investment into three major brownfield sites – the government is also working closely with Camden and has committed an initial £4m to establish a Euston Housing Delivery Group.
The new group will work to:
- Assess the scale of housing opportunity beyond the existing Euston station site
- Identify the infrastructure, services, and green space required to unlick maximum housing delivery
- Consider how these housing opportunities an be delivered across Euston, working closely with the department for transport, the Euston partnership and the London Borough of Camden
Andrea Ruckstuhl CEO Europe, Lendlease said: ‘A Euston Housing Delivery Group is a very positive step forwards as there is clearly enormous potential for the delivery of new homes there and the regeneration of an area that we believe can become one of Europe’s leading centres for innovation and life sciences.
‘We look forward to continued close working with DLUHC, the London Borough of Camden, the Department for Transport, and local partners and communities to help those aspirations become reality.’
Image: Aron Van de Pol
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